Merkel comments on Eurozone reform show move

04 June, 2018, 20:16 | Author: Eric Barnett
  • More Solid       Capital levels of the main Italian banks increase              Source Bloomberg data            
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In a weekend newspaper interview, Merkel ruled out debt relief for Italy, saying that the principle of solidarity among euro zone states should not turn the single currency bloc into a debt-sharing union.

In terms of migration, she wants common asylum standards, a European border police force and a pan-European migration agency, saying that countries that refuse to take on refugees could compensate with contributions in other areas.

What did Merkel say about Italy? European leaders in Brussels, already anxious about Poland and Hungary, now worry a menace to European unity from inside its core.

She added: "In addition I can imagine the possibility of a credit line that is short-term, five years for example". They will present their plans at an European Union summit at the end of June.

Macron gave his speech on European reforms in September 2017, why is Merkel only responding now?


"Don't wait, act now", he said as he picked up a prize in Aachen last month, urging Germany to overcome its "fetish" for budget and trade surpluses and back reforms even if it meant loosening the purse strings. "Of the 180 weapon systems that now coexist in Europe, we must move to a situation like the United States, which has only about 30 weapons systems".

German Chancellor Angela Merkel says she will approach Italy's populist new government with an open mind and try to work with it "instead of speculating about its intentions".

The German chancellor is famously careful and deliberate when acting on issues, but she was criticised by members of her own government for not speaking out in support of Macron sooner.

When it comes to assessing Italy's new governing coalition, made up of the anti-establishment 5-Star Movement (M5S) and the far-right League, DW noted that Merkel has remained among the calmer voices.

Berlin had always been sceptical of the move due to its stronger transatlantic posture on defence matters and the state of its own military, which it has acknowledged is underfunded and poorly equipped.

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