French Economy Minister Bruno Le
Maire warned Wednesday that the euro risks being undermined if
States take decisions without considering the other countries
that have the single currency.
"All the decisions made in Berlin, Rome, Paris and Brussels
have an impact on us, the other countries of the eurozone," Le
Maire told Radio Classique when asked about Italy's budget plan,
which foresees the country's deficit-to-GDP ratio rising to 2.4%
next year.
"Decisions taken without consideration for the partners will
lead absolutely nowhere.
"They will do nothing but weaken the eurozone".
The Commission has expressed concern that Rome's plans for
the deficit would lead to Italy breaching the Stability and
Growth Pact.
On Tuesday Commission President Jean-Claude Juncker suggested
that the EU was unlikely to give the thumbs up to Italy's draft
budget saying that "if we accepted the slippage, some European
countries would cover us with insults and tirades".
Austrian Chancellor Sebastian Kurz echoed Le Maire's
concerns.
"As regards Italy, I'd like to say that it is absolutely
decisive that what has been agreed upon is respected, for the
economy and for the monetary union," said Kurz, whose country
holds the duty presidency of the European Council.
"The Maastricht criteria are valid for everyone.
"I hope there is a clear line. Anything else would endanger
not only Italy, it would also have negative effects on the
eurozone".
German Chancellor Angela Merkel said Wednesday that all the
eurozone States must help maintain the area's financial
stability.
"We are so closely connected to each other that national
decisions can affect all the others," she said.
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