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AIX-EN-PROVENCE (Reuters) – Managing director of the International Monetary Fund (IMF) Christine Lagarde said Saturday that the establishment of a centralized fiscal capacity of the euro area is essential, especially to reduce inequalities between Member States
This project led by French President Emmanuel Macron continues to divide Europeans and its implementation has been postponed indefinitely at the last European Council at the end of June.
To "revive (the) convergence machine (…) it is imperative to mix national policies (…) and a centralized central budget capacity within the euro zone ", said Christine Lagarde during an intervention at the economic meetings of Aix-en-Provence
"It seems essential to us at once to be the expression of a political sovereignty baderted and badumed within the euro zone and because we can not leave behind. ..) the recovery policy be conducted exclusively by the European Central Bank "as has been the case in recent years after the crisis," she added.
Faced with the reservations expressed by the German Conservatives, she clarified that this common fiscal capacity "did not need to be a kind of payment facility" and could very well be put in place "without it becoming ipso facto a policy of systematic transfer from rich countries to countries "
" It may very well be subject to conditions of discipline – in terms of both contribution, grant and repayment – that allow for a fiscal policy common to the Nineteen ", she said.
Angela Merkel let pbad several months before deciding on the proposals of Emmanuel Macron for the European revival, but the two leaders still reached an agreement in mid-June.
The "Meseberg Declaration" adopted by Paris and Berlin provides inter alia for the establishment of a euro area budget from 2021, even if no amount has been defined.
(Leigh Thomas and Myriam Rivet, edited by Eric Faye)
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