German fin min Scholz out with a few thoughts 16 March
- EZ integration steps are necessary and we need to find consensus
- need to make progress on banking union
- Germany and France to form EZ reform, harmonize taxes
- after Brexit it is clear that Germany must make bigger contribution top EU budget
- important for EU voter confidence that we have discussion on EU budget
Sholz is speaking from Paris where he's been meeting his French counterpart Le Maire as the next European master-plan takes shape.
SPD's Sholz got the top job when Merkel caved in on the coalition deal but is widely expected to maintain Schaeuble's austerity-biased programme.
Last month, Scholz told Der Spiegel magazine that Germany should not "dictate" to other European countries how they should develop their economies.
Nonetheless, as a pro-European politician, Scholz is keen to work with other EU countries to drive forward on reform.
Meanwhile EURUSD has held onto 1.2275 and currently 1.2286 with EURGBP off 0.8813 lows and capping cable, now 1.3927 just off session lows with 1`.3920 once again providing support.
USDJPY still trawling around 106.10
