France's President Emmanuel Macron and Germany's Chancellor Angela Merkel | Aris Oikonomou/AFP via Getty Images Germany and France to postpone eurozone reform plan: report Angela Merkel and Emmanuel Macron were to present reform proposals at the European Council summit later this month.

Paris and Berlin have postponed plans to propose an ambitious reform of the eurozone at the upcoming EU leaders' summit on March 22 and 23, Germany's Spiegel magazine reported Saturday.

The plan to present the reform in March, which had been announced by German chancellor Angela Merkel and French President Emmanuel Macron in December, "has been cancelled," Spiegel quoted an EU official involved in the matter as saying. Berlin has informed the Council of the EU "at all levels" that no announcement is to be expected by March, the report said.

German officials reportedly said the delay has been caused by protracted coalition talks in Berlin, which had left no room for forming a position on issues such as a future eurozone budget or a reform of the European Stability Mechanism rescue fund. But Spiegel also suggests that Merkel wants to delay the reform until her new government has shifted into high gear.

The next regular EU leaders' summit takes place at the end of June.