Germany, France pledge new effort to strengthen eurozone

Germany, France pledge new effort to strengthen eurozone

German Finance Minister Wolfgang Schaeuble addresses a news conference at the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany, March 18, 2017. That contrasts with guarded comments by Finance Minister Wolfgang Schaeuble, a Christian Democrat, who said euro-area finance ministers were discussing the matter on Monday in Brussels.

"In general we are so far that we have, in line with what we agreed in May of a year ago, a political conclusion to create the conditions to pay the second tranche on time", Schaeuble said.

Germany and France could either propose a joint corporate tax system of their own or concentrate on pushing ahead efforts for a harmonized assessment basis for corporate tax at the European Union level, Schaeuble said.

"Both are ambitious", he conceded, noting that wider tax harmonization is hard because it would require consensus among European Union leaders.

The new working group will look at how the currency bloc can better coordinate economic policies, harmonise its tax regime and find potential Franco-German investment projects, according to a joint statement.

This was the first meeting between the representatives of the two largest economies in Europe, after Emmanuel Macron's election as the French President.

He offered assurances that "France will respect its European obligations in terms of (budget) deficit reduction". "With Brexit, there is this opportunity, and we expect to seize this opportunity".

"Despite the now strengthening economic recovery in the euro zone, not all member states have recovered completely from the last crisis, and the euro zone is economically vulnerable due to major macroeconomic imbalances, low core inflation and significant financial fragmentation", it said.

"With Brexit, we see the possibility for our financial companies to become more attractive than they were before", said Le Maire, adding that this meant "jobs and wealth for our countries". "We want to use this historic window of opportunity that opened up with the election in France".

Related Articles

  • Ex-CIA Chief Says He Warned Russians About Election Meddling

    He said there appear to be "very, very damaging leaks, and I find them appalling and they need to be tracked down". He told committee members there had not been a good relationship between Putin and the Clintons over the years.
    For Haitians who came to US after earthquake, another deportation reprieve

    For Haitians who came to US after earthquake, another deportation reprieve

    They said reports on crime rates and use of social services by specific groups were separate from decisions on TPS. Some other USA lawmakers and immigration advocates had urged DHS to extend Haiti's TPS status for 18 months.
    Soundgarden frontman Cornell's funeral will be Friday in LA

    Soundgarden frontman Cornell's funeral will be Friday in LA

    The funeral is slated to take place in Los Angeles, and Chris Cornell will be interred at the Hollywood Forever Cemetery. Vicky told Kirsten that Cornell repeated, 'I am just exhausted , ' before hanging up the phone, the report says.
  • Iowa Governor Branstad confirmed as US Ambassador to China

    Iowa Governor Branstad confirmed as US Ambassador to China

    I'm honored to have the opportunity today to speak to my colleagues about my good friend, Governor Terry Branstad . With more than 22 years at the helm of state government, he is the country's longest serving governor.

    Saudi says extending oil cuts, adding small producers enough to drain stocks

    So maintaining the current discipline of production cuts is key and we expect the current quotas to hold for the most part. Iran was also allowed to raise output because sanctions had crippled its supply.
    Cheryl nearly  dumped Liam Payne

    Cheryl nearly dumped Liam Payne

    The singer took to Twitter just now for the first time since wishing her Irish friends a happy St Patrick's day on 17th March. Speaking on heat radio, he said: "I got a standing ovation from everyone except for Cheryl , which I thought was hilarious".
  • Sam Allardyce Expecting More From Wilfried Zaha

    Sam Allardyce Expecting More From Wilfried Zaha

    And before a parliamentary select committee Robert Sullivan from the FA said I hadn't been in breach of any FA rules. Anybody with knocks or problems, I will not play.
    Usmanov bid to buy Arsenal rejected by Kroenke

    Usmanov bid to buy Arsenal rejected by Kroenke

    Kroenke, though, could face a battle to win back the trust of those supporters who believe a change is needed in the boardroom. This includes the need to prepare a successor for Wenger, but in a very respectful way.
    After Yates, more questions for the Trump White House

    After Yates, more questions for the Trump White House

    He said then she informed the White House counsel's office that there were materials relevant to the situation involving Flynn. Trump turned to Twitter to talk back after Yates' testimony Monday.
  • Rebel Wilson tells court Australian articles hurt her career

    Rebel Wilson tells court Australian articles hurt her career

    The publisher's lawyer, Georgina Schoff, claimed that the pieces were factual and explained, "They weren't nasty articles". She was suddenly pursued by paparazzi, men in cars outside her house, and strangers gave her hugs in the supermarket.

    Netanyahu orders Cabinet to attend Trump arrival ceremony

    Trump's remark during that news conference is the clearest statement of policy on the issue from the administration to date. Trump's fierce pro-Israel stance has limits, and just like past USA presidents, Trump has his own agenda, Herzog suggested.
    Anaheim Ducks vs. Nashville Predators - 5/20/17 NHL Pick, Odds, and Prediction

    Anaheim Ducks vs. Nashville Predators - 5/20/17 NHL Pick, Odds, and Prediction

    High winds howled through the streets of downtown Nashville Thursday, where the official city bird is the construction crane. Coming into Thursday night's contest, 36.7 percent of the Predators' points this postseason had come from their defense.