France, Germany propose full-time euro chief

PARIS - French President Francois Hollande said Thursday he and German Chancellor Angela Merkel have decided to push for a full-time chief to oversee the eurozone's economic policy.

Both agreed that there should be more eurozone summits with a full-time president of the Eurogroup overseeing policy in the currency bloc, Hollande was quoted as saying at a joint press conference.

Meanwhile, Merkel urged France to implement reforms and reduce its budget deficit to 3 percent of gross domestic product.