BERLIN (TheStreet) -- Eurozone countries are mulling a new plan to speed fiscal integration that would not require changing European Union treaties, according to a published media report.
The report, published on
The Wall Street Journal's
Web site, cited anonymous sources familiar with the situation.
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Under the plan, governments of eurozone member nations would sign bilateral agreements, a speedier process than changing treaties, the report said.
The bilateral agreements would allow EU authorities to more tightly enforce fiscal discipline among member nations, the report said. Leaders could later push for EU treaty changes at a less frenzied pace, it added.
The precedent for using bilateral agreements is the Schengen agreement, which some EU countries signe and which cancels passport controls at their mutual borders, the report said.
This article was written by a staff member of TheStreet.