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German Finance Minister says open to Macron's eurozone reforms

Xinhua, May 11, 2017 Adjust font size:

Germany's Finance Minister Wolfgang Schaeuble said in an interview published on Thursday that he is open to the eurozone reforms proposed by French President-elect Emmanuel Macron.

"Mr. Macron and I are in complete agreement," Schaeuble said in an interview with Italian newspaper La Republic. "There are two ways to strengthen the eurozone: through treaty changes or pragmatically (through agreements) between states."

Schaeuble continued to say treaty changes are not realistic at the moment.

"But we can't do nothing," he said, "So it is the second best solution to create a European monetary fund in which we further develop the European Stability Mechanism."

Macron promised in his election campaign to promote further eurozone integration and has called for a eurozone finance minister and common budget. He also wants to create a eurozone parliament.

Macron's reform plans have drawn wide criticism from German Parties CDU and FPD. But Schaeuble said he had discussed the parliament proposals with Macron and said it's "possible." Endit