FRANKFURT, Germany (AP) — The head of the European Central Bank is urging political leaders to make reforms to prevent a repeat of the eurozone's financial crisis — including making money available to help member countries that run into trouble.
Mario Draghi said in a speech Friday that such a pot of money could provide "an extra layer of stabilization" for countries facing market turmoil that can't be calmed through national budget and economic policies.
He conceded, however, it would be complex to enact and faces political resistance.
French President Emmanuel Macron has called for EU leaders to agree at a June summit on changes to the euro's setup, to prevent a repeat of the 2010-2015 market turmoil that threatened to break up the 19-country eurozone. He faces skepticism from Germany's Chancellor Angela Merkel.
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