BRUSSELS (AP) International Monetary Fund experts argue the eurozone should set up a joint budget to strengthen the 17-country bloc's ability to weather economic shocks and help its hardest-hit members.
An IMF discussion paper released Wednesday says establishing a risk-sharing structure between eurozone countries would help offset weaknesses in the currency zone that have contributed to its debt crisis.
It says a joint budget with dedicated tax revenues that could pay for infrastructure or public services would provide an automatic safety net for countries hit by a downturn, thus "containing the social and economic cost of the crisis."
The report's proposed solutions go far beyond what is currently envisioned in Europe and would face major political and legal hurdles.
