Draghi Backs Schaeuble Plan for Euro-Region Budget Chief
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European Central Bank President Mario Draghi endorsed a proposal by German Finance Minister Wolfgang Schaeuble for a commissioner who has power over the budgets of nations in the euro region.
“I am fully in favor of it,” Draghi said in an interview with Germany’s Der Spiegel, according to a transcript published today by the Frankfurt based-ECB. “Governments would be wise to seriously consider it” as “in order to restore confidence in the euro area, countries need to transfer part of their sovereignty to the European level.”