May 22, 2017 / 9:40 AM / 6 months ago

Germany, France agree working group to strengthen euro zone

BERLIN, May 22 (Reuters) - Germany and France have agreed to set up a working group that will come up with proposals by July to strengthen the euro zone, their finance ministers said on Monday after their first meeting since the election of Emmanuel Macron as French president.

French Finance Minister Bruno Le Maire said the working group would look at issues such as promoting fiscal convergence, coordinating economic policy and exploring investment projects aimed at boosting growth and lowering unemployment.

Le Maire also said that France would meet its commitment to reduce its public debt.

“France will respect its European commitment to reduce deficits and we are not doing it to please the European Commission,” he said. “We are doing it because it is good for France.”

Schaeuble said Germany and France had a special leadership role to strengthen the euro zone. (Reporting by Paul Carrel and Noah Barkin; Writing by Joseph Nasr)

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