Merkel rules out relief for Italy

Crisis in Italy Causes Stocks to Fall

Crisis in Italy Causes Stocks to Fall

Merkel said in the interview that she will approach the new government with an open mind and try to work with it "instead of speculating about its intentions".

The principle of solidarity among members of the eurozone should not turn the bloc into a debt-sharing union, Germany's Angela Merkel told Frankfurter Allgemeine Sonntagszeitung.

In her first detailed response to Emmanuel Macron's euro-zone ideas, the German chancellor blends caution and compromise: Yay to a Euro-IMF and deeper common defense, nay to Italian debt relief.

He then learn out the checklist of cupboard members, saying that the leaders of Italy's populist alliance, Luigi Di Maio of the 5 Star Motion and Matteo Salvini of the League, could be at his aspect. She said the initiative should bring down the number of different European Union weapon systems from 180 to "about 30".

The EU has been under pressure to show unity after US President Donald Trump's recent moves such as pulling out of the Iran nuclear deal and imposing tariffs on European steel and aluminium exports, according to Reuters.




Merkel said the initiative "needs to fit into the structure of defense cooperation", which she said should bring down the number of different European Union weapon systems from 180 to "about 30". Merkel also said that a future EMF would be organised on an intergovernmental basis and national parliaments of member countries would have oversight.

She added: "In addition I can imagine the possibility of a credit line that is short-term, five years for example".

Merkel also backs the step-by-step introduction of a euro zone investment budget in the low double-digit billions of euros.

German Chancellor Angela Merkel laid out in a newspaper interview her ideas for more European integration, including the creation of a joint refugee agency that would determine asylum requests on the continent's borders. "This is very pleasing", SPD leader Andrea Nahles told the ARD public broadcaster. Conte, a little-known 53-year-old law professor, was sworn in on Friday, ending three months of political deadlock in the wake of inconclusive March 4 elections.

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