Tags: EU | Germany | Eurozone Chief

New Eurogroup Chief Urges Speed in Strengthening Euro

New Eurogroup Chief Urges Speed in Strengthening Euro

Wednesday, 17 January 2018 11:38 AM EST

BERLIN (AP) — The eurozone finance ministers' new leader says Europe needs to use a "unique window of opportunity" in the coming months to strengthen the continent's common currency.

Portuguese Finance Minister Mario Centeno traveled to Germany, Europe's biggest economy, on Wednesday on his first official trip since taking over as head of the eurogroup last weekend.

In a nod to long-standing German concerns about bailing out struggling countries, he declared "we cannot create a transfer union" — which, he said, no one wants.

Centeno said there needs to be "strong euro-area institutions." He also said he sees "efficiency gains from setting up in the future a euro-area finance minister" who would be accountable to parliaments.

Germany has given a mixed response so far to the idea of a eurozone finance minister.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
The eurozone finance ministers' new leader says Europe needs to use a "unique window of opportunity" in the coming months to strengthen the continent's common currency.Portuguese Finance Minister Mario Centeno traveled to Germany, Europe's biggest economy, on Wednesday on...
EU,Germany,Eurozone Chief
130
2018-38-17
Wednesday, 17 January 2018 11:38 AM
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