Hollande, Merkel call for full-time eurozone boss

Thursday, May 30th, 2013 | Finance News

PARIS (AP) — 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 coordination.

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 coordination, especially in the Eurogroup."

Source