In Challenge to Macron, Northern Lobby Wants a Lid on EU Reforms
- Finance ministers of 8 Northern EU countries issue statement
- Signatories want national governments to retain upper hand
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Any changes to the euro area rule book should focus on real needs rather than pipe dreams, eight finance ministers from smaller, fiscally hawkish European Union countries said in a joint declaration that highlights resistance to the lofty ambitions of Emmanuel Macron.
The statement, signed by euro members Finland, Ireland, the Netherlands and the three Baltic states (Estonia, Latvia and Lithuania), and by non-members Sweden and Denmark, comes as talks on shoring up the single currency are entering a critical stage. The French president is expected to start pushing for closer integration now that a governing coalition is finally in place in Germany.