Merkel, Macron Reach Deal on Euro Reforms to Challenge the Dollar
- Agreements include euro-area budget, backstops, stronger ESM
- German-French summit also covered migration and defense
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German Chancellor Angela Merkel and French President Emmanuel Macron agreed on a plan to strengthen the euro area, seeking to fortify Europe against financial crises and strengthen its global influence.
“This is an important step that Europe will be working on for a while,” Merkel said alongside Macron during a highly anticipated meeting outside Berlin on Tuesday. “We can say that we’ve taken a small step along the road.” Macron said the measures would boost “stability and solidarity” in the euro area.