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Euro zone budget could be conditional on discipline - IMF's Lagarde

Reuters  |  AIX-EN-PROVENCE, France 

AIX-EN-PROVENCE, France (Reuters) - IMF Managing Director Christine Lagarde said on Saturday that a proposed joint euro zone budget could be designed with conditions so that it does not become a no-strings-attached transfer of rich countries' cash to poorer members.The leaders of France and Germany agreed last month on a proposal for such a budget that would be used to smooth out economic difference between euro zone countries and stabilise their economies when facing shocks. The Franco-German idea, at the heart of French President Emmanuel Macron's plans for deeper euro zone integration, ...

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First Published: Sat, July 07 2018. 23:22 IST