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Draghi supports eurozone budget

Draghi supports eurozone budget

Mubasher: The governor of the European Central Bank (ECB), Mario Draghi has welcomed the French proposal, backed by Germany, to create a budget for the Eurozone.

On Tuesday, German Chancellor Angela Merkel expressed her support of the initiative by France’s president Emanuel Macron to further enhance cooperation and economic integration between European countries.

Draghi said that the idea is worthy of encouragement and support, in his remarks during the ECB Forum on Central Banking in Sintra, Portugal.

This will be the first time that the ECB receives suggestions from governments, he added.