Macron Proposes to Reform EU, Create New Eurozone Parliament

Macron Proposes to Reform EU, Create New Eurozone Parliament

Greek President Prokopis Pavlopoulos escorts his French counterpart Emmanuel Macron as they inspect a guard of honour during a welcome ceremony in Athens September 7, 2017.

Macron propose to reform the European Union and form a parliament of its core eurozone group.

He also used a visit to Greece, which almost crashed out of the euro zone in 2015, to call for an easing of Athens' debt burden.

The French presidency said North Korea's "repeated provocations" were a "threat to peace and worldwide security". "I have always defended the IMF in worldwide discussions, but intervening in European Union crises and programs is not its first vocation, " he said, expressing the hope that the European Union could set up its own monetary fund to help prevent crises so that it would not have to make recourse to global ones. "We were, we are and we will be here", he said, underlining that this bond will continue to be strong. He then praised the efforts at reform undertaken by the Athens government.

Greece has been financially burdened since 2010 when it signed its first economic bailout deal with worldwide creditors.

It also said Macron had expressed France's "solidarity" with Japan.

More news: European Union threatens legal action against Poland over refugees

Tsipras, having opposed the tactics of previous governments, came to power in 2015 with pledge to kick out the country's creditors and halt all austerity measures, only for Greece to become the recipient of a third bailout deal.

In June the International Monetary Fund demanded that Greece adopt more austerity measures in 2019 and 2020, after the current bailout program expires in August 2018.

"Today we can say with certainty that the country is turning a page", Greek premier Alexis Tsipras said in his address at the Stavros Niarchos Foundation Cultural Centre.

Macron renewed his call for tighter oversight of foreign investments in the EU - a message that Greece has opposed - and urged European investors to support the Greek recovery.

Greece and the International Monetary Fund have often crossed swords over Greece's fiscal progress, its economic targets and unpopular reforms in the labor market.

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