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)

By Reuters

Published on 13/06/2019 - 14:04•Updated 26/04/2024 - 06:55

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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.