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Full economic integration won't solve eurozone crisis: Finnish PM
Last Updated(Beijing Time):2012-05-31 01:17

Full economic integration of the eurozone would not solve the current economic crisis, Finnish Prime Minister Jyrki Katainen said on Wednesday.

He did not believe that the upcoming June summit will take any decisions on expanding the scope of economic union, Katainen was quoted by Finnish Broadcasting Company as saying.

On Wednesday, European Commission President Jose Manuel Barroso told a news conference in Brussels that tighter eurozone integration could include a banking union, a joint bank deposit guarantee scheme and euro area financial supervision.

This came a day after he said that eurozone countries should come up with a timetable to reach full economic union to reassure investors about the future of the single currency bloc.

"My understanding is that the reforms are such that their preparation would take years, as would their implementation, so they wouldn't impact this crisis," Katainen said.

However, he did consider it a good thing that the future of the economic and currency union as well as the EU as a whole is being pondered.

But he did not expect to see any concrete results in this respect from the June summit.

"It will maybe be more of an orientation discussion," said Katainen.

Source:Xinhua 
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