He thinks it is “vague”, “too timid” and, at least partly, “going in the wrong direction”.
As I blogged yesterday, Van Rompuy has deliberately left out any reference to the need for changes to the EU treaties and Schäuble thinks that's a mistake too.
So what would Schäuble propose instead? He wants the European commissioner for economic and monetary affairs to have much greater powers, with the ability to demand that national governments change their budgets without finance ministers being able to block him – in a similar way to the powers given to the competition commissioner.
He also wants a stronger role for the European Parliament, with changes made so that only MEPs from the eurozone are able to vote on economic issues.
Schäuble's suggestions are fraught with difficulties; proposals such as giving the economics commissioner more powers will be tough to get approved by national parliaments. Unlike Van Rompuy, he hasn't had to seek the views of all member states first.
But it does throw down the gauntlet. Van Rompuy's blueprint was supposed to be ambitious. Two days before the European Council Schäuble has shown how much more ambitious it could have been.
Ian Wishart reports on the eurozone (crisis) for European Voice and has done so since the early days of Greece's first bail-out. He also covers other EU issues affecting business, including technology, financial services legislation, competition and the internal market. This blog brings you commentary on those topics as well as any other subject that may come into his head. Comments are encouraged below each post. Ian can be emailed at email@example.com and followed on Twitter.
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