March 21, 2018 / 1:30 PM / a year ago

Merkel calls for euro zone architecture for eurozone to lower risks

German Chancellor Angela Merkel addresses the lower house of parliament Bundestag in Berlin, Germany, March 21, 2018. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - After weathering the worst of the eurozone crisis, the European Union must now create an overall architecture to prevent the actions of one member of the currency union putting all others at risk, German Chancellor Angela Merkel said Wednesday.

Final decisions on that issue would be made in June, she told the Bundestag lower house of parliament.

“Now it’s about the long-term security and stability of the currency,” Merkel said, adding this would include the development of a European monetary fund and steps to improve competitiveness to work toward greater economic convergence among euro zone states.

Reporting by Michelle Martin and Paul Carrel; Writin by Andrea Shalal

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