Schaueble speaking in Berlin, with French finance minister Bruno Le Maire
The two discussed strengthening of euro zone, Headlines via Reuters:
Schaeuble:
- Says both convinced Germany and France have special leadership role in strengthening euro zone
- Agreed with French fin min to set up working group on strengthening euro zone
- Says working group to come up with ideas by July
Le Maire:
- Says convinced will work well with Schaeuble to the benefit of France, Germany and Europe
- Says decided with Schaeuble today to give new impulse to euro zone
- Says working group will present concrete ideas on developing euro zone
- Says we will look at fiscal convergence
- We will look at coordinating economic policy
- We will look at initiatives for investment
- We are ready to accelerate European institutional integration
- France will respect its deficit reduction commitments
- It's good for France to have public finances in order
- France wants Greece kept in Eurozone
- Eurogroup will talk about technical solutions for Greek debt
More from Schaeuble:
- Reforms agreed by Greece are "remarkable"
- Goal is to get Greece competitive, it is not there yet
- IMF is more reserved in its estimations on Greece than euro zone
- Euro zone, IMF still at odds on debt sustainability of Greece
- We will try to find a solution
- Too early to talk about a new program for Greece
More:
- Euro zone remains economically vulnerable because of macro-economic imbalances
- Low core inflation and financial fragmentation also contribute to euro zone vulnerability
All throughout this EUR/USD is not doing much at all. Very small range circa 1.1165/75 or so.