August 14, 2018 / 2:25 PM / a year ago

Euro zone budget could be integrated into broader EU funds: Merkel

German Chancellor Angela Merkel speaks during a news conference with Bosnia-Herzegovina's Prime Minister Denis Zvizdic (not pictured) at the chancellery in Berlin, Germany August 13, 2018. REUTERS/Hannibal Hanschke

JENA, Germany (Reuters) - A planned budget for the euro zone could be integrated into the broader spending funds of the European Union, Chancellor Angela Merkel said on Tuesday, adding she sees no immediate need for a finance minister for the currency bloc.

Speaking to residents of the eastern city of Jena during a “town hall” meeting, Merkel repeated her support for an agreement reached with France in June to boost investments and strengthen economic convergence in the euro zone.

“At the moment we are leaning toward integrating (a euro zone budget) into the European budget so that the European Parliament could oversee it,” Merkel said.

Merkel and French President Emmanuel Macron agreed in June to hammer out the details of a reforms package for the euro zone, including a budget, by the end of the year.

Reporting by Andreas Rinke, writing by Joseph Nasr, Editing by Catherine Evans

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