French President Emmanuel Macron pressured German Chancellor Angela Merkel recently to bail out the failed southern conference of the Big EZ.
According to a Dow Jones Newswires report,
The French leader said the eurozone has deepened disparities, loading indebted nations with yet more debt and making competitive countries even more competitive.
France's public debt stands at more than 96% of economic output, compared with 68.3% in Germany at the end of last year. Unemployment is above 9% in France but closer to 4% in Germany.
Mr. Macron is calling for a shared eurozone budget that could be used to for a variety of reasons, including helping currency members in economic distress, believing that would help address flaws revealed by the 2010 debt crisis.
For the eurozone to have a future, the French leader said, it must have "powerful solidarity mechanisms."
The French leader said Germany should assist with a stimulus of public and private investment in Europe and work with France to find "the right macroeconomic plan."
