Reforms agreed by Greece are "remarkable" but the Greek economy is not yet competitive and Athens must press ahead with implementing its existing reforms-for-aid program, German Finance Minister Wolfgang Schaeuble said on Monday.
German Finance Minister Wolfgang Schaeuble and new French counterpart Bruno Le Maire said Monday they're setting up a working group to produce proposals for a planned bilateral summit in July.
Le Maire said the group would look at fiscal convergence, coordinating economic policy and joint investment projects, and warned that the euro zone's two largest economies must deliver successful reform during Macron's five-year term.
"I hope that we find a solution today which concludes things politically", Schaeuble told reporters on entering a meeting of euro zone finance ministers devoted mainly to Greece.
"Both are ambitious", he conceded, noting that wider tax harmonization is hard because it would require consensus among European Union leaders.
Mr. Schäuble and Mr. Le Maire later Monday will travel to Brussels for a meeting of eurozone finance ministers. He said investment will also be considered.
In prepared remarks for a speech at the Catholic University of Leuven in Belgium, Schaeuble said he shares many of French President Emmanuel Macron's views on how to strengthen the EU.
"Our job is it to come up with a [new] direction for our countries, and Brexit offers this chance", he added.
"Brexit gives us this opportunity and we intend on seizing this opportunity".
Le Drian promised to keep up Franco-German diplomatic efforts to resolve the conflict in eastern Ukraine that has cost nearly 10,000 deaths since fighting broke out in 2014 between Russia-backed separatists and the government.
With Germany's economy - Europe's largest - outperforming that of France, the traditional Franco-German engine at the heart of the European Union that has often misfired in recent years. "We want to use this historic window of opportunity that opened up with the election in France".
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts.