October 10, 2017 / 11:33 AM / in 10 months

Euro group agrees ESM must be developed, says Germany's Schaeuble

LUXEMBOURG (Reuters) - Outgoing German Finance Minister Wolfgang Schaeuble said on Tuesday there was broad agreement within the euro group that the euro zone’s European Stability Mechanism (ESM) bailout fund should be developed further.

FILE PHOTO: German Finance Minister Wolfgang Schaeuble talks to reporters during the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany, March 17, 2017. REUTERS/Kai Pfaffenbach/File Photo

German Chancellor Angela Merkel and her conservatives want a bigger role for the ESM in making sure EU budget rules are adhered to.

Reporting by Peter Maushagen; Writing by Madeline Chambers; Editing by Michael Nienaber

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