April 19, 2018 / 12:17 PM / 9 months ago

France's Macron says euro zone must agree on solidarity mechanisms

German Chancellor Angela Merkel and French President Emmanuel Macron hold a news conference at the building site of the Humboldt Forum in Berlin, Germany, April 19, 2018. Kay Nietfeld/Pool via Reuters

BERLIN (Reuters) - French President Emmanuel Macron said on Thursday that euro zone member states should add solidarity mechanisms such as a banking union to the existing instruments meant to improve competitiveness if they want the bloc to thrive.

“No monetary union can exist without elements of convergence,” the French leader said in a joint conference with German Chancellor Angela Merkel ahead of talks on the currency union’s reform.

“The most important thing is not to react on such and such instrument at this stage, but to be sure that we share the same goals and to have a joint political objective,” he added.

Both leaders want to present joint proposals in June, Macron reiterated.

Reporting by Michel Rose; Editing by Ingrid Melander

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