Macron says eurozone states must agree on ‘solidarity mechanisms’

The French president said on Thursday that eurozone member states should add solidarity mechanisms such as a banking union to the existing instruments meant to improve competitiveness if they want the bloc to thrive. “No monetary union can exist without elements of convergence,” Emmanuel Macron said during a news conference with German Chancellor Angela Merkel, ahead of talks on the currency union’s reform. “The most important thing is not to react on such and such instrument at this stage, but to be sure that we share the same goals and to have a joint political objective,” Reuters quoted him as saying. According to Macron, both leaders want to present joint proposals in June.