Southern European countries
could in future draw on the European Stability Mechanism (ESM)
"not only in case of failures, but also to improve their
economic circumstances inn negative periods and in the case of
natural disasters," according to a plan being drawn up by German
Finance Minister Wolfgang Schaeuble, according to Bild.
But in exchange, the German daily said, the ESM should be
able to get "greater influence over the budget policies of
eurozone countries".
Bild said the plan, which may become concrete after German
elections on September 24, was drafted to meet concerns voiced
by French President Emmanuel Macron.
Schaeuble has often been critical of budgetary laxity on the
part of the eurozone's weaker southern members.
A spokesman for Schaeuble said later that the plan did not
envisages eurobonds or "billion-euro pots".
He said the development of the ESM and the deepening of the
eurozone were at stake.
Meccanismo di stabilità europeo e l'approfondimento
dell'Eurozona".
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