Armstrong Economics Blog/European Union
Re-Posted Aug 20, 2018 by Martin Armstrong
Chancellor Angela Merkel has rejected France’s Macron’s proposal for the establishment of a euro finance minister. Merkel has also stated that she wants a planned EU budget for the Eurozone area as part of the EU budget. She does not want an independent budget for the 19 countries of the monetary union. Merkel is still adhering to her view that the quantity of money causes inflation and it has been that policy which has suppressed the European economy for the last decade. A Euro finance minister she argues would lack both a budget as well as there would be no parliamentary control.