Eurozone 'to consider closer economic scrutiny'

Eurozone countries could get a far greater say in each others' economic policies, according to draft documents the BBC has reportedly seen.

The governments of these countries would also have to make "concrete commitments" on economic targets, which would be reviewed every year. These moves, and a closer co-ordination of fiscal measures, will be discussed later this month at a meeting of eurozone leaders, the papers suggest. The proposals are part of plans to try to improve confidence in the euro, the BBC reports. If agreed, the measures would overhaul the existing rules on economic policy, which includes an obligation to keep budget deficits below 3% of GDP. This was part of the 1999 Stability and Growth Pact, but man...