Germany: Merkel's party strikes cautious note on euro reform

Chancellor Angela Merkel's party says the rights of Germany's parliament must be preserved as the eurozone rescue fund is converted into a "European Monetary Fund," and that the EU's Executive Commission shouldn't have sole control of the new body.

Germany and France aim to agree on proposals for European Union changes by June. French President Emmanuel Macron has pushed for deep reforms of the 19-nation eurozone, which uses the shared euro currency.

Annegret Kramp-Karrenbauer, general secretary of Merkel's conservative Christian Democratic Union, said Monday her party is not conducting a "discussion meant to block anything" in June. But she says "our aim is for the results ... to be in European and German interests."

Merkel has cautiously welcomed Macron's proposals but made clear Germany's reluctance to share financial liability remains.