Euro Zone Needs Joint Budget, Germany Must Do More – SPD Leader

The euro zone needs a joint budget to increase investment and Germany should be prepared to do more in Europe, possibly by increasing its financial contribution to the bloc, SPD leader Martin Schulz told supporters in Berlin on Sunday.

Schulz accused Chancellor Angela Merkel during his speech for not telling voters how she wanted to strengthen the European Union and achieve full employment as he laid out his plan to boost investment and restore solidarity in Europe.

Schulz, the former European Parliament President, is hoping to beat Merkel in a Sept. 24 election but his centre-left Social Democrats (SPD) have lost momentum in the polls after gaining at first following his nomination in January.

Presenting a ten-point-plan for a modern Germany and a better Europe, Schulz said he would introduce an investment obligation for the state to boost public spending on infrastructure and education.

Schulz gave no figures, but he has said he wanted to boost infrastructure investment by 30 billion euros over the next four years to improve schools and streets.

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