The budget of the euro area could be conditioned to the discipline: Lagarde

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, said Saturday that a proposal The Eurozone's common budget could include conditions so that it does not become a transfer of funds. 39, unrestricted money from rich countries to the poorest members.

The leaders of France and Germany agreed last month that it would be used to reduce economic differences between eurozone members and stabilize their economies when they are facing turbulence.

The Franco-German idea, at the center of the plans of French President Emmanuel Macron, to deepen the integration of the euro area, quickly faced the opposition of other countries from the block led by the Netherlands, concerned about how He will go and use his money.

"This centralized fiscal capacity should not become a means of payment," Lagarde said. "There may well be badociated disciplinary conditions," he added, at an economic conference in Aix en Provence.

Although the details are not yet resolved, the Franco-German proposal does not speak of conditions However, his proposal calls for the continuation of conditions of access to the rescue fund of the euro area, the European Mechanism stability.

France and Germany proposed that the joint budget take effect from 2021 and that it be financed by a tax on financial transactions, to which other countries have already injected cold water.