Macron, in Greece, pushes for deeper eurozone integration

Macron, in Greece, pushes for deeper eurozone integration

Macron, in Greece, pushes for deeper eurozone integration

"Europe must create the appropriate institutions.to be able to deal with its problems using its own institutions, its own financing tools", Tsipras told reporters during a joint press conference in Athens with French President Emmanuel Macron. Her finance minister has proposed transforming the euro zone's rescue fund, the European Stability Mechanism (ESM), into a fully fledged EMF with more powers to support weaker members.

The second day of Macron's visit focused on economic issues, with more than 140 French and Greek businesses - among them oil giant Total and construction firm Vinci - meeting in Athens. The leading expert of the european policy of the Atlantic, who from the title of his editorial that announces the color: "Emmanuel Macron will be yet another failed french president " (" Emmanuel Macron will be yet another French president to fail"). The intellectual who also takes the opportunity to express his skepticism about the reform of the labor code, the first major project of the president's mandate: " Any continuing decline in unemployment in France would be welcome, but the experience of other countries suggests that this would involve new forms of inequality.

Euro zone governments in June approved another 11th-hour credit line for Greece worth almost $10 billion after the International Monetary Fund said it would in principle join the country's current bailout, having hesitated for two years.

Greece's third rescue programme, now financially supported by European Union states alone, runs to August 2018. On Thursday, he met Greek Prime Minister Alexis Tsipras and presented his vision for Europe in a speech at the site of the ancient Athenian assembly, seen as an enduring icon of democracy worldwide. "We can achieve fiscal unification if we achieve political and economic integration", Tsipras said.

The IMF has typically stuck to a "two-line" approach regarding Greece: The organization believes there is a need to keep undertaking structural reforms to make the Greek economy competitive, while also implementing some form of debt relief for long-term sustainability.

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