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ECB would welcome euro zone budget: Draghi

ECB would welcome euro zone budget: Draghi© Reuters. FILE PHOTO: ECB President Draghi delivers a speech during a ceremony to mark the 20th anniversary of the launch of the Euro, at the European Parliament in Strasbourg

FRANKFURT (Reuters) – The European Central Bank would welcome a common budget for 19 countries sharing the euro, especially if it provided macroeconomic stabilization functions, ECB President Mario Draghi said in a letter on Wednesday.

“A common budgetary instrument could, if appropriately designed, increase the economic resilience of the individual participating Member States and of the euro area as a whole,” Draghi wrote in response to a query from a member of the European Parliament.

“Rather than creating conflicts of interest between policy areas, in this type of situation a fiscal capacity of this nature could support the single monetary policy in stabilizing the economy and thus promote price stability,” Draghi said.

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Source: Investing.com

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