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France Wants Ambitious Eurozone Reforms

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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

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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