Deutsche-NYSE Deal Supports 'Free Markets': Ron Paul

The planned purchase by the German Deutsche Boerse of the NYSE Euronext fits in with Rep. Ron Paul’s support of globalization and free markets, the congressman told CNBC Wednesday.

“We shouldn’t be afraid of people investing here,” said Paul, (R-Texas), a member of the House Financial Services Committee, which has a say in whether the deal will go through. Paul is also chairman of the House Domestic Monetary and Technology Subcommittee.

"If we believe in globalism and we believe in free markets, I think we shouldn't be afraid of other countries investing here," Paul explained.

The Boerse-NYSE deal would create a combined group with headquarters in New York and Frankfurt: The Deutsche Boerse shareholders would hold about 60 percent of the combined company and the NYSE shareholders would hold the rest.

Paul said the deal is an example for the U.S. to follow.

“We should be investing elsewhere, too,” Paul added. "I would say we should have done this a long time ago with Cuba and we’d have been a lot better off. And for years, we stayed out of China. We get along much better with China now. They’re our banker and they loan us all that money for our debt so they allow us to live beyond our means."