Merkel says EU should have veto over national budgets

PUBLISHED : Thursday, 18 October, 2012, 4:15pm
UPDATED : Thursday, 18 October, 2012, 4:15pm


German Chancellor Angela Merkel said Thursday the European Union’s top financial official should have the power to veto member states’ national budgets. Merkel, addressing the Bundestag lower house of parliament ahead of an EU summit beginning later in Brussels, said the EU’s economics commissioner should have the authority to declare a budget “invalid”.