PARIS: Leading economists from France and Germany on Wednesday called for new fiscal rules for the eurozone and the creation of an independent watchdog to help to make the single currency more resilient against crises in the future.

In a 33-page paper, the economists warned that even if the single currency area was “finally experiencing a robust recovery... after nearly a decade of stagnation”, it “remains fragile.”

Germany and France are currently trying to inject new momentum into stalled EU reform efforts.

And the economists’ “blue­­print for reform” is intended to bridge German demands for more fiscal discipline and France’s insistence on more risk-sharing.

Published in Dawn, January 18th, 2018