France, Germany agree to set up Eurozone budget: Merkel

Meseberg, Germany: France and Germany have agreed to set up a common budget for the Eurozone, Chancellor Angela Merkel said on Tuesday, announcing a key reform proposal to bolster the bloc.

The budget will be a "real budget with annual revenues and spending," said French President Emmanuel Macron after talks with the German leader, adding that Paris and Berlin hoped to have it in place by 2021.