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German FDP reject Macron's call to create joint euro zone budget
September 26, 2017 / 4:50 PM / 3 months ago

German FDP reject Macron's call to create joint euro zone budget

BERLIN (Reuters) - A senior member of Germany’s pro-business Free Democrats (FDP), a potential coalition partner for Chancellor Angela Merkel, generally welcomed French President Emmanuel Macron’s European Union speech but criticised his proposal to create a joint euro zone budget.

“This was a courageous speech by President Macron, even if not all of his proposals meet approval of the FDP,” said Alexander Graf Lambsdorff, FDP leader in the EU legislature.

While Lambsdorff welcomed Macron’s call to strengthen military cooperation in the EU and seize the opportunities of digitisation, he rejected the idea of a join euro zone budget.

“The problem in Europe is not a lack of public funds, but the lack of reform. A euro zone budget would set exactly the wrong incentives,” he said.

(The story refiles to restore name of FDP leader, which was inadvertently deleted.)

Reporting by Michael Nienaber, editing by Larry King

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