Angela Merkel open to common eurozone budget

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Germany’s chancellor says she is prepared to consider a euro budget, as well as a joint finance minister for the eurozone. But she stressed that such profound changes would only make sense if they increased prosperity.

Angela Merkel told business leaders in Berlin on Tuesday that she was open to reforms, saying the economic cohesion of the 19 countries in the euro area “leaves something to be desired.”

“We could of course consider a common finance minister, if the conditions are right,” and if there is a proper balance concerning risk and liability for debt, the chancellor said in a speech at the annual congress held by Germany’s largest industrial lobby, the BDI (the Federation of German Industries).

“We could also consider a euro-budget if it is clear that we are really strengthening the structure of the economy,” she said. “We shouldn’t say what is not possible, but rather consider what makes sense.”

Recently elected French President Emmanuel Macron has advocated strongly for such reforms, arguing that the euro currency bloc is in desperate need of a shakeup. He says the group should have a separate budget, as well as its own parliament and finance minister. The European Commission has also put forward similar proposals…

Read more : Deutsche Welle, 20.06.2017