The Daily Caller

The Daily Caller
French President Sarkozy and German Chancellor Merkel (Photo: AP) French President Sarkozy and German Chancellor Merkel (Photo: AP)  

French, Germans explore idea of smaller euro zone

German and French officials have discussed plans for a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone, EU sources say.

“France and Germany have had intense consultations on this issue over the last months, at all levels,” a senior EU official in Brussels told Reuters, speaking on condition of anonymity because of the sensitivity of the discussions.

The discussions among senior policymakers in Paris, Berlin and Brussels go further, raising the possibility of one or more countries leaving the euro zone while the remaining core pushes on toward deeper economic integration, including on tax and fiscal policy.

Full story: French, Germans explore idea of smaller euro zone