Paris demands more investment to Berlin for further growth of the eurozone

The French Minister of Economy and Finance, Bruno Le Maire, launched on Saturday a message to Germany to invest more taking advantage of its budget margin and thus contribute to an acceleration of activity in the eurozone, which can not be satisfied with its "weak "current growth.

Le Maire, who took part in the Economic Meetings in Aix en Provence (southeastern France), explained that he has proposed to Germany "a growth pact" that takes advantage of low interest rates.

In this context of low money prices, the pact would consist of the countries of the single currency carrying out structural reforms, respecting their budgetary commitments and "those that can" would have to invest more in innovation, research and infrastructures "to feed the growth of the euro zone. "

"European solidarity - he stressed - means that those who can invest invest more and those who can not invest at the moment, restore their public finances, improve their competitiveness and then associate with collective investments."

The French minister, who participated in a round table in which there was also Annegret Kramp-Karrenbauer, secretary general of the Christian Democratic Union (CDU), the party of the German chancellor, Angela Merkel, also indicated that she does not conform to the compromise reached in June for a joint budget of the euro zone.

He stressed that this agreement for a budget "of convergence, not yet of stabilization, is a starting point, not a point of arrival".

Faced with the reluctance of Berlin to any increase in the envelope for the management of the eurozone, Paris defends the idea, with other southern European countries, that more funds are needed, especially to come to the aid of the most Weak in case of new crisis.

"The French," added Le Maire, "want a stabilization budget for the euro zone, a solidarity budget among the countries of the euro zone."

The French finance minister said he wants to put four issues on the table with Germany: the growth pact, how to convert the euro into a reference currency like the dollar or the yuan, new proposals for European competition policy and the way to avoid a trade war between China and the United States that "will only make losers".