07:22 GMT +324 May 2018
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    Reform Euro or Watch It Die Within a Decade - French Presidential Hopeful Macron

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    The euro currency could collapse within a decade without serious reform, French presidential hopeful Emmanuel Macron has warned, saying that the current system benefits Germany at the expense of other weaker member states.

    Speaking at an event at Berlin's Humboldt University, Macron warned the single currency would not survive in its current state.

    "The truth is that we must collectively recognize that the euro is incomplete and cannot last without major reforms," he said.

    "It has not provided Europe with full international sovereignty against the dollar on its rules. It has not provided Europe with a natural convergence between the different member states."

    Putting forward his case for the French presidency, Macron said France needed to make labor market reforms and adjust its education system in order to stimulate growth.

    ​He also echoed the sentiments of German Vice-Chancellor Sigmar Gabriel, criticizing Berlin-led austerity in the Eurozone, calling for more investment in order to boost growth across the singe currency area.

    "The dysfunctioning of the euro is of good use to Germany," Macron said, calling for greater cooperation between Paris and Berlin to introduce major reforms that would help solidify the Eurozone.

    "The euro is a weak Deutsche Mark. The status quo is synonymous, in 10 years' time, with the dismantling of the euro," he said.

    More Integration, More Spending

    In a time of rising Euroskepticism across the continent, Macron has called for deeper integration and the creation of Eurozone budget to help fund growth-related projects and offer more assistance to weaker member states.

    The presidential hopeful's comments come amid deep splits within the Eurozone over the future of the single currency.

    ​On one hand, some like Macron have pushed for a relaxation of austerity measures and more public or EU spending to help boost growth in some sluggish economies, arguing that tight fiscal measures are suffocating some member states.

    Meanwhile others, led by Germany and some other northern European nations, have rejected such proposals, instead calling for the continuation of strict fiscal discipline in order to avoid further debt blowouts in the single currency.

    ​Macron has also bucked the trend of many populist movements in Europe, encouraging people to support the EU and stop the so-called "Brussels bashing."

    Recent polls have shown the 39-year-old, who doesn't belong to a political party, to be popular with the general public ahead of France's presidential election this year, with supporters hopeful the centrist can win votes from both the left and right and make it through to the final round runoff. 


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    single currency, Eurozone, euro, austerity measures, investment, reform, Emmanuel Macron, Europe, France
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