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French, German leaders agree on need to have a full-time president for 17-country eurozone

Associated Press
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French President Francois Hollande, left, arrives with German Chancellor Angela Merkel at the Elysee Palace, Thursday May 30, 2013, at the Elysee palace in Paris.(AP Photo/Jacques Brinon) (The Associated Press)

French President Francois Hollande, right, arrives with German Chancellor Angela Merkel at the Elysee Palace, Thursday May 30, 2013, at the Elysee palace in Paris.(AP Photo/Jacques Brinon) (The Associated Press)

France and Germany are pushing for the creation of a full-time president for the 17-country euro currency bloc with stronger powers to drive economic policy.

French President Francois Hollande and German Chancellor Angela Merkel say they agree on the need for a new high-level leader of the eurozone as a way to improve coordination.

Speaking Thursday at a joint press conference in Paris, Hollande said he and Merkel "are in agreement that there should be more eurozone summits, with a full-time Eurogroup president with strengthened powers."

Currently, the meetings of eurozone finance ministers — collectively known as the Eurogroup — are chaired by the Dutch finance chief, Jeroen Dijsselbloem.

Merkel seconded the call, saying "we need more economic policy coordination, especially in the Eurogroup."