May 29, 2018 / 8:14 AM / 24 days ago

Market volatility, Brexit reinforce urgency for EU27 reforms - German deputy fin min

FRANKFURT, May 29 (Reuters) - Political turmoil in Italy and Britain’s decision to leave the European Union underscore the need for reforms in the bloc, a senior official of the German finance ministry said on Tuesday.

Joerg Kukies, deputy finance minister with responsibility for financial market policy and European issues, said he didn’t have much more to add beyond statements from Chancellor Angela Merkel on Italy.

“I would add that to me the current market volatility, together with Brexit, reinforces urgency of the EU27 to proceed with lacking reforms,” Kukies said at a financial conference here.

On Monday, Merkel said she would work with any coalition government formed in Italy, but also warned that any discussions on economic policy would have to be within the rules governing the euro zone. (Reporting by Tom Sims Editing by Michael Nienaber)

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