Macron outlines EU reform plans

The eurozone should have its own budget and finance minister, Emmanuel Macron has said in a major speech.

France’s president said the reform was key to ensure the stability of the single currency union and to weather economic shocks.

“The fundamental issue at stake is not a mechanism which will magically solve all our problems,” Macron said in an address on the future of Europe. “What is at stake is to reduce unemployment which affects one in five European youths.”

He added that his idea was not about “mutualising past debts” or about trying to “resolve the public finance problems of one state or another”.

Watch again: Macron’s full speech