Merkel offers Macron concessions on eurozone reforms

More than a year after Macron took office with the stated mission to bolster the EU and make it more responsive to its citizens, Merkel's response comes at a time of heightened concern about the future of the bloc due to political turmoil in Italy and Spain and transatlantic tensions.

Merkel offers Macron concessions on eurozone reforms

World Bulletin / News Desk

German Chancellor Angela Merkel delivered a long-awaited answer to French President Emmanuel Macron's ambitious call for European Union reforms Sunday, offering olive branches on investment and help for debt-mired eurozone member states.

Merkel told the Frankfurter Allgemeine Sonntagszeitung ahead of a crunch EU summit this month that Germany as the eurozone's top economy would support an investment budget whose total would be "at the lower end of the double-digit billions of euros range".

She said the "rainy day fund", as it has been dubbed, would serve to help even out economic imbalances between richer and poorer European countries "which need to catch up in the areas of science, technology and innovation".

"We need quicker economic convergence between the member states," she said.

"To do that we have to strengthen investment capability with the help of additional structural policies," she said, adding that the fund would be phased in gradually and then evaluated in terms of its effectiveness.

 

Güncelleme Tarihi: 03 Haziran 2018, 12:37
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