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Merkel: after successful bailouts, euro zone needs reform

German Chancellor Angela Merkel addresses the German lower house of parliament Bundestag in Berlin, Germany, June 28, 2018. REUTERS/Christian Mang

BERLIN (Reuters) - German Chancellor Angela Merkel said on Thursday that further euro zone reform was needed to nip possible future crises in the bud, after aid programs to some member states had been successful.

Addressing parliament before heading to an EU leaders’ summit which will deal with euro zone reform among other issues, Merkel said: “The Greek program, like others, was a huge challenge but we can say the euro is stable, the programs are over and the countries are competitive and this was a good piece of work and a good bit of European solidarity.”

“But there is still a need to reform. That is why we agreed with France to work together,” she said, adding that that included developing the European Stability Fund into a kind of European monetary fund to help avoid potential crises.

Reporting by Madeline Chambers, editing by Thomas Escritt