MORE: Merkel to Propose Common EU Budget at October Summi

Plan would replace structural cohesion funds with common EU budget to enable aid to stricken euro-area member states, Die Welt reported, citing unnamed EU sources. * Budget is priority for Chancellor Angela Merkel at Oct. 18-19 EU summit in Brussels * Aims to allow joint aid for member states against economic conditions * Funds could flow from national budgets, transaction taxes * France, Spain may see the proposal as diversion tactic * Germany wants to end debate over common euro bonds with proposal * MORE: States could welcome suggestion, if Germany makes concessions on areas including recapitalizing ailing banks via the European Stability Mechanism

To contact the reporter on this story: Jeff Black in Frankfurt at

To contact the editor responsible for this story: Craig Stirling at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.