Juncker calls for single IMF seat for eurozone 15/05/2008 00:00

Eurogroup head urges Sarkozy to push for a single eurozone seat to be established at the International Monetary Fund.

15 May 2008

BRUSSELS - Eurogroup head Jean-Claude Juncker on Thursday urged French President Nicolas Sarkozy to push for a single eurozone seat to be established at the International Monetary Fund (IMF).

"President Sarkozy during his electoral campaign... said that there should be a single representation at the IMF," he told a conference in Brussels.

"He has four more years, if he leaves (the presidency) after the first five-year term..., to follow up on the issue.

"I strongly urge that this is done quickly," he added.

The European Commission, like Juncker, has long supported the idea of a single representation for the eurozone in major international forums such as the IMF and G7.

Fifteen of the EU's 27 members states have adopted the common currency, with that figure set to rise.

The proposals appeared in a text published last week to mark the 10th anniversary of the launch of the common European currency.

France will assume the EU's rotating presidency in July for the second half of the year.

Juncker, who is Luxembourg's prime and finance minister, is the chairman of the Eurogroup of finance ministers.

[AFP / Expatica]