Merkel reaches out to France's Macron on eurozone budget Featured

German Chancellor Angela Merkel addressing BDI, 20 Jun 17Image copyright Getty Images Image caption Mrs Merkel was speaking at the annual congress of the Federation of German Industry (BDI)

German Chancellor Angela Merkel says she could back a eurozone finance minister and eurozone budget "if the circumstances are right".

French President Emmanuel Macron has argued strongly for both, in order to reform the eurozone.

Germany is wary of any move that might lead to a "transfer union" - a common budget used to prop up indebted governments in the 19-nation eurozone.

Many Germans resent the billions of euros spent on bailing out Greece.

The Berlin government does not want German taxpayers to have to underwrite high spending elsewhere in the EU without oversight.

Mrs Merkel said sensible changes could be introduced if they could be sure of improving the lives of European citizens, including generating work for young people. She was addressing German business leaders in Berlin.

"We could also consider a euro-budget if it is clear that we are really strengthening the structure of the economy and doing sensible things," she said.

President Macron's strongly pro-EU stance has boosted Mrs Merkel's position in the run-up to Germany's general elections in September.

But reforming the eurozone remains a major challenge. The 2008 financial crash and subsequent eurozone debt crisis led to high unemployment and painful public sector cuts in much of Europe.

Merkel strikes a balance - Jenny Hill, BBC News, Berlin

Image copyright AFP Image caption Mr Macron and Mrs Merkel are looking ahead to a more closely integrated EU - without Britain in it

The old French-German alliance that once powered the political heart of the EU is spluttering back into life, fuelled in part by Britain's decision to leave the union.

Angela Merkel and Emmanuel Macron share a vision of an EU of closer integration, stronger co-operation.

It's a vision which rather appeals to German voters too. But they (and consequently Mrs Merkel) are rather more wary of his ideas for the future of the eurozone. Germans, still smarting from the Greek debt crisis, are sensitive about the idea of their money bailing out other countries.

So Mrs Merkel is treading carefully, ensuring that her support for a eurozone finance minister and possibly a budget too was counter-balanced with the apparent insistence that there could be no mutualisation of individual state debt.

She's striking a balance, forging an alliance with Mr Macron but keeping a close eye on the German electorate.

And - while it's unlikely to have been deliberate - the timing of her comments come just as Brexit negotiations begin. She's been keen to steer that narrative towards the future of the EU without Britain; raising the prospect of closer fiscal integration among eurozone members may help to achieve that aim....

Read more

Rate this item
(0 votes)
Super User

Curabitur ultrices commodo magna, ac semper risus molestie vestibulum. Aenean commodo nibh non dui adipiscing rhoncus.



  • Iesha
    Iesha Wednesday, 23 August 2017 07:52 Comment Link

    You actually make it seem so easy with your presentation but I find this
    matter to be really something that I think I would never understand.
    It seems too complicated and extremely broad for
    me. I am looking forward for your next post, I'll
    try to get the hang of it!

  • Violet
    Violet Wednesday, 23 August 2017 06:28 Comment Link

    After looking into a handful of the articles on your website,
    I really appreciate your way of blogging. I book-marked it to my bookmark website list and will be checking
    back soon. Please check out my website as well and let me know
    how you feel.

  • Roxanna
    Roxanna Wednesday, 23 August 2017 04:59 Comment Link

    Thanks to my father who told me regarding this webpage,
    this webpage is truly remarkable.

  • Leroy
    Leroy Wednesday, 23 August 2017 04:47 Comment Link

    Hmm it looks like your website ate my first comment (it was super long) so I
    guess I'll just sum it up what I had written and say, I'm thoroughly
    enjoying your blog. I as well am an aspiring blog writer but I'm still new to
    the whole thing. Do you have any helpful hints
    for beginner blog writers? I'd certainly appreciate it.

  • Trent
    Trent Wednesday, 23 August 2017 00:23 Comment Link

    Hey! This is kind of off topic but I need some help from
    an established blog. Is it tough to set up your own blog? I'm not very
    techincal but I can figure things out pretty fast.
    I'm thinking about setting up my own but I'm not sure where to start.

    Do you have any ideas or suggestions? Thank you

  • Roseanne
    Roseanne Tuesday, 22 August 2017 22:39 Comment Link

    Good day! Do you know if they make any plugins to help with SEO?
    I'm trying to get my blog to rank for some targeted keywords but I'm not seeing very good success.
    If you know of any please share. Many thanks!

  • News Script
    News Script Monday, 21 August 2017 21:47 Comment Link

    Really clear website , regards for this post.

  • Hilda
    Hilda Monday, 21 August 2017 13:28 Comment Link

    Heya i'm for the primary time here. I found this board and
    I find It truly helpful & it helped me out much. I
    am hoping to present one thing again and aid others like you helped me.

  • Dorothea
    Dorothea Monday, 21 August 2017 13:23 Comment Link

    First of all I would like to say wonderful blog!

    I had a quick question that I'd like to ask if you don't mind.
    I was curious to find out how you center yourself and clear your
    head prior to writing. I have had a tough time clearing my mind in getting my
    thoughts out there. I truly do enjoy writing but it just
    seems like the first 10 to 15 minutes are lost just trying to figure out how to begin.
    Any suggestions or tips? Many thanks!

  • Alphonso
    Alphonso Monday, 21 August 2017 12:22 Comment Link

    My spouse and I stumbled over here from a different web page
    and thought I may as well check things out. I like what I see so now i am following you.

    Look forward to finding out about your web
    page yet again.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

NewsLine is a full functional magazine news for Entertainment, Sports, Food website. Here you can get the latest news from the whole world quickly.

Popular Item

Recent News