Austria rejected German and French plans to create a unified budget of eurozone member states, DW reported.

As Austrian Chancellor Sebastian Kurz told Welt am Sonntag, such an approach is wrong.

According to him, such a move will be impossible to explain the working taxpayers in Germany, Austria or the Netherlands.

The European Commission should teach not only small but also large states of the eurozone, such as France, to comply with the Stability and Growth Pact, said the Austrian Chancellor.

According to Kurtz, funds from a single euro budget should serve to reduce economic differences between the eurozone member states and prevent economic crises.