Germany: Merkel's party strikes cautious note on euro reform

Associated Press |

BERLIN (AP) — Chancellor Angela Merkel's party says the rights of Germany's parliament must be preserved as the eurozone rescue fund is converted into a "European Monetary Fund," and that the EU's Executive Commission shouldn't have sole control of the new body.

Germany and France aim to agree on proposals for European Union changes by June. French President Emmanuel Macron has pushed for deep reforms of the 19-nation eurozone, which uses the shared euro currency.

Annegret Kramp-Karrenbauer, general secretary of Merkel's conservative Christian Democratic Union, said Monday her party is not conducting a "discussion meant to block anything" in June. But she says "our aim is for the results ... to be in European and German interests."

Merkel has cautiously welcomed Macron's proposals but made clear Germany's reluctance to share financial liability remains.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

World Economic Forum at Davos 2019 - Dominic Briggs General Partner Blockwall Management

Matt Bird sits down with Dominic Briggs, General Partner Blockwall Management at the World Economic Forum at Davos 2019