German Finance Minister Olaf Scholz presents the annual customs report during a news conference in Berlin, Germany, April 17, 2018. REUTERS/Hannibal Hanschke/File Photo
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Germany's finance minister is urging bolder steps to strengthen the 19-country euro currency union by setting up a fund to help member states suddenly hit with high unemployment, and by laying the foundations for a European Union-wide tax system.Scholz, who is also Merkel's vice chancellor, advocated a eurozone "reinsurance" fund that would loan money to countries that are hit by an economic crisis and have higher jobless benefit costs.Scholz said it could bring in 5 billion to 7 billion euros ($5.6 billion to $8.2 billion) per year.Merkel made eurozone proposals in an interview published June 3 in the Frankfurter Allgemeine Sonntagszeitung. She focused on strengthening EU immigration policy and mentioned a small investment fund.
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