Poland urges EU to spend 700b euros to boost growth

WARSAW, Sept 13 (AFP): Poland has called on the European Union to loosen its purse strings to boost growth, becoming the latest country to question German-led austerity as the eurozone economy continues to falter.

The 28-member bloc should agree to about 700 billion euros ($900 billion) in spending over the next five years, Poland's finance minister said in an interview published on Friday.

"We need to convince Europe that it needs to spend more," Minister Mateusz Szczurek told the Financial Times.

Talk of a fresh round of spending has not gone down well in Germany, which has Europe's biggest economy and would likely be asked to contribute a hefty sum to the overall pool.

The EU powerhouse has insisted that countries bring down their public deficits. The stance has angered other members including France, which has been grappling with a stagnant economy.