Macron's Key Euro Ally Signals Reform Plan Is in Trouble
- Spain waters down euro-area reform goal ahead of June summit
- Official sees no movement from Germany on risk-sharing
This article is for subscribers only.
The extent of the problems facing Emmanuel Macron’s plans for European reform was laid bare Monday when Spain, its key ally on the issue, dropped most of its goals citing opposition from Germany.
With Italy hamstrung by political gridlock and Germany stalling publicly, Spain had emerged as the main supporter of the French president’s push for closer integration of the euro area. Now Spain is lowering its sights.