Euro zone needs joint budget, Germany must do more: SPD leader

BERLIN, GERMANY - APRIL 10: Martin Schulz, chancellor candidate of the German Social Democrats (SPD) speaks to Foreign Journalists' Association on April 10, 2017 in Berlin, Germany. The SPD has seen a strong upswing in popularity and membership since Schulz, former President of the European Parliament, was chosen as the SPD chancellor candidate for German federal elections slated for September. (Photo by Steffi Loos/Getty Images)

BERLIN : The euro zone needs a joint budget to increase investment and Germany should be prepared to do more in Europe, possibly by increasing its financial contribution to the bloc, SPD leader Martin Schulz said in a strategy paper presented on Sunday.

Germany is a great country. But Germany can do more, Schulz, whose SPD is the junior party in Germany’s coalition government said in the introduction of his ten-point-plan for a modern Germany and a better Europe.

Schulz said EU countries outside the single currency bloc should not be able to veto further euro zone integration and that those ignoring solidarity on important issues must face financial sanctions.

Schulz is hoping to beat Chancellor Angela Merkel in a Sept. 24 election but the SPD has lost momentum in the polls after gaining at first following his nomination in January.

Source : Reuters


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