Political debate intensifies on Eurozone reform

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Publication Date 04/06/2018
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Ahead of what was seen as an important European Council summit in June 2018, European leaders started clarifying their positions on reforming the Eurozone and completing the Economic and Monetary Union (EMU). The debate was further intensified by statements from Germany's Chancellor.

Further information:

France's call for ambitious reform in the European Union was only partially embraced by German leadership, which proposed a smaller budget to support convergence and struggling Eurozone member states. Germany also showed its support to the creation of a European Monetary Fund (EMF) with powers to give members hit by sovereign debt troubles short-term credit lines.

The French President launched his vision for a reformed European Union in September 2017. A package of proposals towards the completion of the Economic and Monetary Union was also put forward by the European Commission in late 2017.

+ Convergence in EMU: What and How? [EPRS]
+ Can Merkel and Macron Deliver a Franco-German Plan for Europe? [Carnegie Europe et al.]

Political instability in some Eurozone member states (here and here) as this discussion unfolded provided further arguments to some stakeholders in favour of carrying forward a broad reform of the European Union.

Related Links
ECFR: Commentary, 15.06.18: Berlin’s new language of compromise http://www.ecfr.eu/article/commentary_berlins_new_language_of_compromise
ECFR: Commentary, 07.06.18: Merkel and Macron: edging towards change? http://www.ecfr.eu/article/commentary_merkel_and_macron_edging_towards_change_note_from_berlin
Spiegel Online International, 15.01.18: French Finance Minister. 'Good News that Merkel Has Now Reacted' http://www.spiegel.de/international/europe/bruno-le-maire-good-news-that-angela-merkel-has-now-reacted-a-1213197.html
Germany: Federal Chancellor: Meseberg Declaration https://www.bundeskanzlerin.de/Content/EN/Pressemitteilungen/BPA/2018/2018-06-19-meseberg-declaration.html
EurActiv, 06.06.18: Juncker: ‘Completing the EMU is more important than ever’ https://www.euractiv.com/section/economy-jobs/news/juncker-completing-the-emu-is-more-important-than-ever/
EurActiv, 05.06.18: Window of opportunity for EU reform might shrink soon, experts suggest https://www.euractiv.com/section/future-eu/news/window-of-opportunity-for-eu-reform-might-be-shrinking-soon-experts-suggest/
Politico, 23.05.18: German economic adviser: ‘Italy is another argument for reforming now’ https://www.politico.eu/article/isabel-schnabel-germany-eurozone-banking-emu-economic-adviser-italy-is-another-argument-for-reforming-now/
Deutsche Welle, 09.05.18: Macron's EU: Most Germans support reforms... to a point http://p.dw.com/p/2xTCz
EurActiv, 04.06.18: Merkel offers Macron concessions on eurozone reforms https://www.euractiv.com/section/future-eu/news/merkel-offers-macron-concessions-on-eurozone-reforms/
Deutsche Welle, 04.06.18: Paris welcomes Merkel's 'first answer' to Macron's EU reform plan http://p.dw.com/p/2yt9W
Politico, 04.06.18: Angela Merkel dashes Emmanuel Macron’s eurozone dreams https://www.politico.eu/article/an-offer-emmanuel-macron-cant-refuse-eurozone-budget-angela-merkel/
The Local (Germany), 03.06.18: Merkel meets Macron halfway on eurozone reforms https://www.thelocal.de/20180603/merkel-meets-macron-half-way-on-eurozone-reforms
The Conversation, 05.06.18: Italy’s new government is on a collision course with EU fiscal rules – it’s time for eurozone reform http://theconversation.com/italys-new-government-is-on-a-collision-course-with-eu-fiscal-rules-its-time-for-eurozone-reform-97715
The Guardian [Editorial]: The Guardian view on eurozone reform: correct the mistakes of the past https://www.theguardian.com/commentisfree/2018/may/30/the-guardian-view-on-eurozone-reform-correct-the-mistakes-of-the-past
Deutsche Welle, 22.05.18: German economists slam Macron's eurozone reform agenda http://p.dw.com/p/2y8tW
Euro|topics, June 2018: Merkel's and Macron's ideas: are they compatible? https://www.eurotopics.net/en/200601/merkel-s-and-macron-s-ideas-are-they-compatible

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