EU chief signals bloc needs more say in AIIB

European Commission President Jean-Claude Juncker on Wednesday signaled that the European Union (EU), as a whole, needs more say in the Asian Infrastructure Investment Bank (AIIB) as urging a stronger position of the euro in global arena.

Delivering his first State of the EU address to the European Parliament in France's Strasbourg, Juncker raised the point and complained that member states rushed to join AIIB but failed to make joint efforts.

He said "How can it be that a strategically important new Infrastructure Investment Bank is created in Asia, and European governments, instead of coordinating their efforts, engage in a race who is first to become a member?"

The remarks came after he expressed concern over the euro area's lacking of integrated power to challenge major players, such as the International Monetary Fund (IMF), on global economic stage.

The eurozone, which has the second largest currency in the world, but "can still not speak with one voice on economic matters in international financial institutions," he said.

For example, he said in the daily work of the IMF, instead of speaking with one voice as the euro area, Belgium and Luxembourg have to agree their voting position with Armenia and Israel; and Spain sits in a joint constituency with Latin American countries.

"How can it be that we, Europeans, are jointly major shareholders of global institutions such as the IMF and the World Bank and still end up acting as a minority?"

"We need to grow up and put our common interests ahead of our national ones," he added.

Apart of mentioning euro position, Juncker focused on the refugee crisis, economic recovery and climate change in his speech "Time for Honesty, Unity and Solidarity."

So far the EU has not become a member of AIIB despite a number of EU member countries have joined as founding members. Endit