Merkel urges reform within Eurozone

German chancellor warns Eurozone will not work in long run if member states do not closely coordinate economic policies

Baku. 2 March. REPORT.AZ/ German Chancellor Angela Merkel has warned the Eurozone will not work in the long run if member states fail to closely coordinate their economic policies.

Speaking at a European Investment Bank conference in Berlin on Monday, Merkel called for major economic and financial reforms within the EU.

She said: "Can we have a currency union without having an economic union, is the question.

"And I would clearly say that in the long run, this would not work."

Merkel called on EU member states to take lessons from the financial crisis and focus on reforms that would strengthen competitiveness.

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