The European Union (EU) is experiencing a crisis and needs to regain credibility and public trust, the deputy finance minister of Chancellor Angela Merkel’s political party told CNBC.
“We are, without any doubt, within the worst times ever for the European Union,” Jens Spahn, deputy finance minister of the Christian Democratic Union (CDU), told CNBC on Wednesday. The CDU governs in Germany with its Bavarian sister party, the Christian Social Union (CSU).
Spahn noted the region’s migration crisis, attempts to combat terrorism and a lack of unified policy towards problems in the Middle East were among the issues that had divided the region.
“So far every member state has its own policy and we should do it together – then people will see that working together has an added value and that is what is needed now.”
On the economic front, Spahn said that the euro zone was lacking growth but stressed that the problems stemmed from a lack of reform at a national level.