June 4, 2018 / 12:29 PM / 17 days ago

German parliament to have say in ESM development - Merkel spokesman

BERLIN (Reuters) - Germany’s lower house of parliament will have a say in any plans to develop the euro zone’s bailout fund, a government spokesman said on Monday after Chancellor Angela Merkel said she supported turning the European Stability Mechanism (ESM) into a European Monetary Fund.

German Chancellor Angela Merkel in Porto, Portugal, May 30, 2018. REUTERS/Pedro Nunes

“A key principle of the federal government remains that the participation rights of the Bundestag lower house of parliament in the further development of the ESM, for example, must remain in place,” Steffen Seibert said during a regular government news conference.

Reporting by Joseph Nasr; Editing by Michelle Martin

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