Schaeuble plan cd help south Europe countries (4)

(ANSA) - Berlin, August 23 - 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".