Schaeuble Risks U.K. Ire With EU Treaty Change Push for Euro

German Finance Minister Wolfgang Schaeuble said he wants legal changes to European Union treaties as early as next year to strengthen the euro area’s ability to enforce budgetary discipline, threatening to stoke tensions with the U.K. and France.

Schaeuble said the proposals, which he discussed with Chancellor Angela Merkel, would give the EU’s monetary affairs commissioner powers to reject national budgets and keep European Parliament lawmakers from non-euro states such as the U.K. from blocking decisions that only affect the euro region.