Germany's Merkel, ECB's Draghi meet for private exchange of views

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Her proposed fixes include the completion of a long-sought banking union, a common European investment budget, and a European Monetary Fund (EMF) that would be developed from the bloc's existing bailout fund, the European Stability Mechanism (ESM).

He then learn out the checklist of cupboard members, saying that the leaders of Italy's populist alliance, Luigi Di Maio of the 5 Star Motion and Matteo Salvini of the League, could be at his aspect.

She also said the EMF should be able to assess the debt sustainability of member states and "the instruments needed to restore this if necessary" - a nod to debt restructuring, which France opposes. The chancellor also said she backed an investment budget for the euro zone, which would be in the low two-digit billions of euros that would be introduced step by step and evaluated over time to address structural weaknesses of member states.

Merkel also called for European cooperation on migration and asylum programs.

She said while cohesion among members of the single currency bloc was important, "solidarity among euro partners should never lead to a debt union, rather it must be about helping others to help themselves".

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All new models will include some form of electrification, and six models will be available as plug-in hybrids. The company's Jeep brand sold a total of 97,287 units in May. "It makes us better than we were".

The German chancellor appeared to agree with Mr. Macron that a common European system of biometric registration and a common border police were indispensable.

In another nod to Macron, Merkel said she had a "positive view" of his joint European military intervention force.

The issue is complicated by Germany's determination to retain domestic parliamentary control over its forces. She said the initiative should bring down the number of different European Union weapon systems from 180 to "about 30".

Germany's Bundeswehr would not need to participate in all such European missions, Merkel said, and would join "to the extent of the possibilities of a parliamentary army". Ms. Merkel confirmed she could envision future British participation in European defense intervention forces.

Macron has repeatedly expressed impatience with what he sees as foot-dragging by Merkel, who was tied up with five months of coalition building after an inconclusive general election in September.

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