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ECB would welcome euro zone budget: Draghi

Reuters  |  FRANKFURT 

(Reuters) - The would welcome a common budget for 19 countries sharing the euro, especially if it provided macroeconomic stabilisation functions, ECB said in a letter on Wednesday.

"A common budgetary instrument could, if appropriately designed, increase the economic resilience of the individual participating Member States and of the area as a whole," wrote in response to a query from a member of the

"Rather than creating conflicts of interest between policy areas, in this type of situation a fiscal capacity of this nature could support the single monetary policy in stabilising the economy and thus promote price stability," said.

(Reporting by Balazs Koranyi; Editing by Janet Lawrence)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 17:45 IST