Via Market News Int.: FRANKFURT (MNI) – The European Union should consider setting up an independent body to survey member states’ fiscal policies that would be similar to the United States’ Congressional Budget Office, European Central Bank Executive Board member Juergen Stark said Monday in a radio interview on Austria’s Oe1 radio. Although there is a severe crisis at present in the Eurozone, the viability of the single currency is not in doubt, Stark assured. In an effort to control balooning budget deficits, the European Union should “consider having an independent commission…that would regularly address the condition of public finances in individual countries,” Stark argued. Stark mentioned the Congressional Budget Office as being a possible inspiration for such a body in the European Union. He noted the CBO is accepted by both parties in the United States. “I could imagine…that we could have a similar practice here in Europe,” he said. “We are in a severe crisis,” Stark intoned, “but nobody is questioning the euro,” he insisted. “I see the current situation as a wakeup call for politicians in the Eurozone and in the EU to reconsider their actions and to orient more strongly their national economic policies to the conditions of the currency zone,” he elaborated.