France Wants Ambitious Eurozone Reforms

France wants a more ambitious reform of the euro zone than the one sketched out by Angela Merkel and will press the German chancellor for additional concessions on a euro zone budget and banking union in the weeks ahead, French officials say.

After months of silence and mounting criticism, Merkel offered a detailed response to French President Emmanuel Macron’s calls for an overhaul of how the single currency bloc is run in a German newspaper interview on Sunday.

Macron has been calling for a far-reaching reform of the euro zone since coming to power a year ago, arguing that Europe’s most successful symbol of integration needs to be overhauled to prevent a repeat of the sovereign debt crisis that nearly tore it apart in 2010-12.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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