ECB would welcome euro zone budget: Draghi

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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.