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Merkel supports a common euro budget to help countries reform

German Chancellor Angela Merkel said today she is in favor of a common euro budget of "small amounts" to support countries such as Spain that apply "Reforms" and have scarcely any room for spending due to the limits of the deficit.

German Chancellor Angela Merkel said she was in favor of a common budget for the euro of "small amounts" to support those countries which, Such as Spain, apply "reforms" and have little margin for spending due to the limits of the deficit.

Merkel made these remarks at her traditional summer press conference, Only four weeks of the general election, in which he also supported the reconversion of the permanent bailout fund into a European monetary fund and said he was studying with Paris the Creating a finance minister for the eurozone.

"I was soon in favor of a common budget for the euro, but not one of hundreds of millions, but small amounts to get started. This budget would be "to help in the phase of reforms" since, it can not be understood that a country like Spain, that has initiated a long series of reforms, cut in university and in Research centers, which per se does not improve competitiveness. "

Among other ideas he has in mind for the development of the euro are also the proposal of his minister of Finance, Wolfgang Schäuble, who has advocated turning the European Stability Mechanism (ESM) in a similar to the International Monetary Fund (IMF) instrument, but for Europe.

In his Opinion, would be "an important reform" that would provide greater stability to the EU and teach "the world" that Europe has "mechanisms in the eurozone to overcome well situations unexpected ".

He also said have nothing against" the concept of a finance minister for the euro area ", but said that talks with French President Emmanuel Macron, to outline the powers of this new post have just begun.

Merkel considered that it would be even more interesting a Minister of Economy and Finance in the eurozone who Promote competitiveness and have the capacity to financially support specific countries that have reform plans.

The chancellor stressed that macroeconomic data are Improving in the eurozone, that all countries are growing and the unemployment rate is declining, but acknowledged that "not all problems have been overcome" even though the bloc is "better Which he did two or three years ago. "

Regarding Greece, he said he is improving but he did not predict whether Athens will need a fourth bailout after the third, Which is still immersed.

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