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‘Europe must defend sovereignty!’ German finance minister makes panicked plea on EU future

1 min read

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German Finance Minister Olaf Scholz has urged the European Union to “defend its sovereignty” within the financial sector. The Social Democratic Party politician was addressing the union’s Economic and Monetary Affairs Committee about Germany’s priorities during its six-month Presidency of the European Council. Mr Scholz warned that not heeding his words could jeapordise the “stability of the economic bloc’s finance markets”.

He told the committee: “What is important for us to the digital transition in the financial sector, we want to try and support that.

“This is an area where Europe needs to defend its sovereignty.

“We need to use all the technological possibilities that are available to us to ensure the stability of the financial markets.

“We don’t want private economic actors taking over things that states should be taking care of.”

More to follow…

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