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Tensions over the future course of eurozone integration have been laid bare as Spain a radical expansion of the European Central Bank's powers over member states. Ahead of a June summit of European leaders, Madrid has urged its fellow member states to expand the role of the ECB in order to curb dangerous "macroeconomic imbalances" building up in the currency union. In list of highly ambitious proposals, Spain also called for the single currency to adopt a common budget for use in emergency rescues, and issue debt in the form of eurobonds, according to a list of proposals reported in El Pais  Both measures are likely to meet the resistance in Germany, Europe's largest creditor, as a further pooling of funds that would effectively subsidise southern debtor states. They would also likely require a reworking of Europe's treaties - a shakeup that has been ruled out by Berlin as Britain also seeks to renegotiate its relationship with Europe. Highlighting the euro's exposure to "asymmetric shocks", the blueprint urges for a revolution in the ECB's mandate, requesting the central bank adopt tools to prevent soaring debt levels and crippling unemployment.  The direction of eurozone integration is up for question as France and Germany draw up plans to overhaul the euro ahead of an EU leaders' summit next month.  On Monday, it was revealed that Chancellor Angela Merkel and French president Francois Hollande had agreed to push ahead with greater integration but ruled out the possibility of a treaty change to Europe's existing legal framework.  Price stability is the overriding objective of the ECB, as enshrined in the Maastricht Treaty - the founding document of the euro.  But Madrid's ambitious calls could see the ECB expand its powers and emulate the US Federal Reserve, which operates on a dual mandate that includes an unemployment target. Spain has the highest level of youth unemployment in the 19-member bloc at over 50pc.  Madrid's plans highlight the rift between northern and southern members over competing visions for the single currency.   Germany and its creditor allies are seeking to enshrine greater fiscal discipline into the euro's legal framework, while debtor states, including France, have called for greater investment and pooling of emergency funds. Allowing the ECB to take a central role in dictating government economic policy would arguably require a reworking of Europe's treaties, say analysts.