Members of Chancellor Angela Merkel's conservative bloc opposed to larger financial contributions to the euro zone on Wednesday reacted with scepticism to her agreement with French President Emmanuel Macron to create a common budget for the currency bloc.
Merkel and Macron hailed a "new chapter" for the euro zone after talks at the Meseberg retreat outside Berlin on Tuesday where they hailed the budget as a tool to strengthen economic competitiveness in the currency union. But details were scant.
Merkel's conservative bloc is divided over immigration and stiff resistance to euro zone reforms agreed with Macron could further erode her authority and threaten to unravel her coalition government three months after taking office.
"For us this is more like splitting Europe because countries that are not using the euro will be excluded. I am stunned by the promise that was given to Macron," he added, referring to Merkel's support for a euro zone budget.
Macron defended the agreement when pressed by journalists, saying the budget would be operational by 2021 with annual revenues and spending.
The two leaders had decided to focus on broad issues to leave more room for negotiations with the other 17 euro members, which leaves scope for the plans to be watered down.
"Now it's about the details. Much remains unclear and should be made public, including the size of the new euro budget and the level of German contributions," said CDU lawmaker Eckhardt Rehberg, parliamentary speaker on budget policy for the CDU/CSU.
"We will have to look carefully at the justifications given for new euro funds and credit lines in addition to existing ones," Rehberg added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)