A European Union report includes a proposal that eurozone member nations make commitments to undertake fiscal reform, a measure that would increase Brussels' power over countries' fiscal policies, CNBC reports. Currently the EU requires such binding commitments from nations receiving bailouts.
The document includes a proposal for a central budget for the eurozone.
The European debt crisis and the strains it has placed on the common currency have led some European leaders to advocate more centralized decision making.
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