Similar Stories to German Finance Minister Wants Eu To Have Budget Veto Powers on Bing News

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.

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