Czech Prime Minister Petr Nečas and his British counterpart David Cameron
have designed an initiative aimed at pushing the European Council to adopt
a more active stance on supporting economic growth and a unified European
market. The Czech prime minister has said that efforts to create a truly
unified European market should not be neglected in the common currency
zone. Currently, only some 40 percent of goods and services in the EU are
part of a unified market. According to information from the Czech News
Agency ČTK, the two prime ministers are planning to submit a formal letter
outlining the initiative to the president of the European Council, Herman
van Rompuy. Aside from the two countries, both of which were the only EU
members to not sign the fiscal compact, other member states such as the
Netherlands may sign the initiative. In late January, the Czech Republic
and the UK both refused to sign a new fiscal compact, aimed at established
tighter budget controls across the Eurozone.