MNI BRIEF: Klingbeil: E6 Will Be Pacemakers For CMU, Reforms

German Finance Minister Lars Klingbeil said Monday that the 'E6' group of EU finance ministers would act as "pacemakers" for finding solutions and breakthroughs on key projects to boost EU competitiveness, like CMU or "Savings and Investment Union". 

The minister hosted a meeting of the E6 over lunch ahead of  a full meetiing of the Eurogroup. The E6 brings together the finance ministers of Germany, France Italy, Spain, Poland and The Netherlands. Capital Markets or Savings and Investment Union remains the priority reform for the group and for the EU, he said, describing it as a "game changer" for European competitiveness.

Klingbeil said that international investors were making clear in their contacts with the EU that they wished to position themselves in a more diversified way and said Europe should become a "safe haven" for global capital and investment flows.  (see MNI POLICY: EC Moots Swap Lines In Trade Deals To Boost Euro  )