Burton Mills: Paris and Berlin Push for Euro Zone Reform

TAIPEI, Taiwan, January 22, 2018 (Newswire.com) - Encouraged by strong hopes for a coalition deal between Chancellor Angela Merkel and the Social Democrats (SPD), France and Germany will attempt to insert fresh energy into their delayed EU reform strategies when their finance ministers convene in Paris.

This week, after top German and French economists reveal new plans for a reform of the eurozone, Peter Altmaier, one of Merkel’s top party allies, will meet with his French counterpart Bruno Le Maire.

According to economists at Taipei, Taiwan-based Burton Mills, the meeting between Altmaier and Le Maire is an indication that Berlin is willing to negotiate with Paris alongside Merkel’s coalition discussions with the SPD, which could start later this month if members of the center-left party give the go-ahead at a party assembly that is due to take place next week.

Achim Post, deputy leader for the SPD in parliament stated that they have an acting government which can act and must continue to work. He added that the coalition plans agreed upon last week would pave the way for a shift towards greater investment and employment in Europe.

Burton Mills economists say the news was also well-received by French President Emmanuel Macron, whose ideas for an extensive reform of the European Union were hindered by an inconclusive German election last year and the political uncertainty that followed.

A 28-page draft document, which may form the foundation for Merkel’s third grand coalition government since she came into power in 2005, brings up the possibility of an investment budget for the European Union. This complies with Macron’s call for funds to be made available to help the eurozone deal with external economic risks.

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Source: Burton Mills