Comment on German finance minister wants EU to have budget veto powers

German finance minister wants EU to have budget veto powers

Berlin (AFP) - German Finance Minister Wolfgang Schaeuble said Sunday the European economic and monetary affairs commissioner should have veto powers over national budgets that breach eurozone criteria.Such a reform would send "a strong signal that we truly honour our commitments", the veteran minister said ahead of a European summit in Brussels next month, in an interview published in news weekly Focus.The comments come amid tensions between Berlin, which has preached fiscal discipline, and Paris, which is running a budget deficit and urging more stimulus spending.Schaeuble proposed that the economic and monetary affairs commissioner, a post held by Pierre Moscovici of France, "should get the right to veto budgets that violate the euro stability criteria"."This does not violate national budget laws.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News