France Calls On Northern Europe to Boost Spending

French finance minister Bruno Le Maire has challenged the wealthier economies of northern Europe to increase budget spending to revive eurozone growth and cut the risks of another financial crisis, an ambitious proposal likely to raise hackles in Berlin and The Hague, the Financial Times reported. “There are many countries in the eurozone that have the means to invest more,” Mr Le Maire told the Financial Times in an interview in Paris. He named Germany, the Netherlands and Finland as he announced a four-point plan he called a “new eurozone growth compact”. He said: “The members of the eurozone have not taken all the decisions necessary to confront a new economic or financial crisis and today they are not taking the decisions needed for growth to be at the maximum of its potential.” Read more