PARIS – France and Germany are pushing for the creation of a full-time president for the 17-country euro currency bloc with stronger powers to drive economic policy.
French President Francois Hollande and German Chancellor Angela Merkel say they agree on the need for a new high-level leader of the eurozone as a way to improve co-ordination.
Speaking Thursday at a joint press conference in Paris, Hollande said he and Merkel “are in agreement that there should be more eurozone summits, with a full-time Eurogroup president with strengthened powers.”
Currently, the meetings of eurozone finance ministers — collectively known as the Eurogroup — are chaired by the Dutch finance chief, Jeroen Dijsselbloem.
Merkel seconded the call, saying “we need more economic policy co-ordination, especially in the Eurogroup.”