German Chancellor Angela Merkel ready to consider Macron eurozone reform ideas

German Chancellor Angela Merkel said today she was prepared to consider new French President Emmanuel Macron's proposals for a shake-up of the eurozone.

Published: 20th June 2017 05:07 PM  |   Last Updated: 20th June 2017 05:07 PM   |  A+A-

German Chancellor Angela Merkel . AP


BERLIN: German Chancellor Angela Merkel said today she was prepared to consider new French President Emmanuel Macron's proposals for a shake-up of the eurozone.     

Speaking to business leaders in Berlin, Merkel acknowledged that the "economic cohesion of the eurozone member states leaves something to be desired".     

Merkel, who is running for a fourth term in a September general election, said Germany would be open to an "economic government" to pool "best practices" for promoting jobs and growth among the 19 eurozone members.     

"We could of course consider a common finance minister, if the circumstances are right" with the proper balance among risk, liability for debt and the power to dictate policy, Merkel said.     

"We could also consider a euro-budget if it is clear that we are really strengthening the structure of the economy and doing sensible things," she added, backing another suggestion by the French leader.     

During his campaign, Macron had put forward ideas for reforming the eurozone, noting that the currency bloc cannot go on as it is if it wanted to avoid falling prey to protest and populism.     

Among reforms he wants to see are setting up a separate budget for the group, as well as giving it its own parliament and finance minister.     

Macron has forged the beginnings of a strong working relationship with the German leader since his election last month and chose Berlin for his first trip abroad as president.     

At a joint press conference, Merkel threw her support behind Macron's call for a "historic reconstruction" of the European Union, even expressing openness to a possible change to key treaties governing the bloc despite some scepticism in Berlin.   

Germany and France, traditionally the twin engines of European integration, agreed last month to launch a bilateral panel to kickstart the eurozone reform process.     

The new working group will look at how the currency bloc can better coordinate economic policies, harmonise its tax regime and find potential Franco-German investment projects.     

The bilateral panel will report to a joint ministerial meeting of the eurozone's two biggest players in July.

Stay up to date on all the latest World news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp