Berlin puts brakes on French push for eurozone fiscal transfers

Germany yesterday (1 September) put the brakes on a French push for the eurozone to appoint a new Commissioner with powers to coordinate economic policy across the bloc and preside over fiscal transfers between its 19 members.

French Economy Minister Emmanuel Macron had floated the idea in an interview with a German newspaper earlier this week, saying that the eurozone status quo would lead to the currency union's self-destruction.