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Critics believe this would represent a dismantling of one of Europe's biggest symbols of unity. But Schäuble said a separate parliament for the 18 countries in the eurozone would allow the smaller group to integrate more closely.
"We need to enhance European integration in an intelligent way and enshrine it by making changes to the (EU) treaties", Schäuble said, reiterating the need for far-reaching legal changes to underpin economic reforms to support the currency. "I can imagine there being a eurozone parliament", he told a gathering organised by the European People's Party, a group representing centre-right political parties.
In making his case, Schäuble referred to a desire in eurozone members France and Germany that "the European parliament should be involved more effectively in eurozone decisions". "It would be relatively easy to achieve this by creating a eurozone parliament consisting of members of parliament from eurozone countries", Schäuble said.
Sweden's Finance Minister Anders Borg said he was sceptical about Schäuble's suggestion and that it would do little to address a widespread lack of trust in Brussels.