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France and Germany agree on 'full-time' Eurogroup chief

France and Germany have agreed upon appointing a full-time president to oversee Eurogroup, French President François Hollande announced at a joint press conference with Angela Merkel in Paris on Thursday.

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France and Germany have agreed to jointly push for a full-time chief to oversee economic policy in the eurozone, President Francois Hollande said on Thursday.

"We agree that there be more eurozone summits with a full-time president of the Eurogroup," which oversees policy in the currency bloc, Hollande said at a joint press conference with Chancellor Angela Merkel.

The Eurogroup, currently headed by Dutch Finance Minister Jeroen Dijsselbloem, is at present run by one of the 17-nation eurozone's finance ministers. It sees the zone's finance ministers meet informally every month to set economic policy for the bloc.

The proposed new president "could be mandated by eurozone ministers to support action for jobs, research and industry," Hollande added.

(AFP)

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