Eurozone reform on German focus
11 May, 2018
Senior members of Chancellor Angela Merkel's conservatives rebuffed last Tuesday criticism that Germany is effectively blocking Eurozone reform proposals by French President Emmanuel Macron, news wires reported. While the CDU-CSU bloc is opposed to any pooling of debts in Europe, any fiscal policy without national parliamentary control and the EC's proposal for a Eurozone finance minister, Volker Kauder, leader of the conservatives in the Bundestag, said the ruling coalition parties had agreed several measures to strengthen European integration.
Both the CDU-CSU and the SPD back bigger German contributions to the EU budget and developing the Eurozone's rescue fund, the ESM, into a European Monetary Fund controlled by the parliaments of the currency bloc's members. “We'll implement that,” Kauder told reporters at the end of a two-day gathering of the coalition's parliamentary leaders, without providing details. But in an apparent swipe at Macron's ambitious proposals for Eurozone reform, Kauder said that “with all due caution, I'd like to say now that not every proposal that is made by a Member State automatically means a step forward”.