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Euro zone close to agreeing on euro zone budget, financial transaction tax - Scholz

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By Reuters
Euro zone close to agreeing on euro zone budget, financial transaction tax - Scholz
FILE PHOTO: German Finance Minister Olaf Scholz attends a news conference during the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka, Japan June 9, 2019. REUTERS/Kim Kyung-Hoon/Pool   -   Copyright  KIM KYUNG-HOON(Reuters)
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LUXEMBOURG (Reuters) – German Finance Minister Olaf Scholz said on Thursday that euro zone finance ministers meeting in Luxembourg were close to reaching an agreement on a euro zone budget and a financial transaction tax.

The 28 countries that form the European Union have a shared EU budget but euro zone countries also want a separate budget for their group to serve as a fiscal tool to intervene in the euro zone economy alongside the single monetary policy of the European Central Bank.

(Reporting by Peter Maushagen; Writing by Michelle Martin; Editing by Tassilo Hummel)

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