November 14, 2018 / 10:11 AM / a month ago

Germany's Merz: Europe needs own tax, euro zone must stick to rules

FILE PHOTO: German conservative Friedrich Merz from CDU holds a news conference about his candidacy to succeed Chancellor Angela Merkel as leader of the Christian Democrats, in Berlin, Germany October 31, 2018. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - A German conservative running to replace Chancellor Angela Merkel as leader of the Christian Democrat (CDU) party said the euro could only work in long term if members stick to the rules and added that Europe ultimately needed its own source of tax.

Friedrich Merz told Bild in a video interview on Wednesday that taxes like Germany’s solidarity surcharge - introduced to help poorer states in eastern Germany after reunification - should not longer be collected once their purpose has been fulfilled.

Reporting by Michelle Martin; Editing by Madeline Chambers

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