June 8, 2018 / 7:45 AM / in 2 months

Macron right that we must move Europe forward now - German FinMin

BERLIN, June 8 (Reuters) - German Finance Minister Olaf Scholz said he agreed with French President Emmanuel Macron that immediate steps were needed to push Europe forward and expressed optimism about reaching an agreement with France on bolstering the euro zone’s ESM rescue fund.

“French President Emmanuel Macron is right when he says we must move Europe forward now,” Scholz said at a family-owned company conference in Berlin where his French and British counterparts will speak later on Friday.

Scholz added that he could envision the introduction of a “backstop” for the Single Resolution Fund before 2024 if the problem of non-performing loans at European banks could be addressed. (Reporting by Noah Barkin Editing by Michelle Martin)

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