October 20, 2014 / 1:41 PM / 3 years ago

Germany, France to seek deal on investment, reforms, budget

BERLIN, Oct 20 (Reuters) - Germany and France agreed on Monday to work towards a deal to boost investment and accelerate economic reforms to revive a stagnating euro zone economy, their finance ministers said.

German Finance Minister Wolfgang Schaeuble, who has opposed any big public investment drive, said Paris and Berlin would put forward a joint paper in early December on strengthening investment “within the limits of what can be done” and reforms.

While Germany still had modest growth, the euro zone economy was weakening, “so we are determined to do everything together so that we strengthen investment in our countries”, he said.

His French counterpart, Michel Sapin, acknowledged that France, which submitted a budget to EU authorities last week in breach of its deficit reduction commitments, faced a big challenge to reduce public spending but would tackle the issue. (Reporting by Noah Barkin; Writing by Paul Taylor)

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