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Since 2010, Mrs Merkel has urged the International Monetary Fund (IMF) to play a key role in tackling the Greek debt crisis. But new plans laid out by her party could see the IMF take a far smaller role in any future bailouts. The Christian Democratic Union (CDU) wants the Eurozone's bailout fund, the European Stability Mechanism (ESM), to be dramatically expanded.

The policy was unveiled in the party's manifesto ahead of September's crunch elections in Germany. Angela Merkel, 62, is looking to drum up support as she stands for a record fourth term as Chancellor. The CDU hopes the ESM will play a "stronger role, perhaps even the sole role" in solving problems faced by Eurozone nations.

GETTY Angela Merkel has performed a shock U-turn on the Eurozone crisis

The many faces of Angela Merkel Wed, May 17, 2017 German Chancellor, Angela Merkel through the years Play slideshow 1 of 16

GETTY The German Chancellor, 62, is standing for a record fourth term

The manifesto adds: "We are ready to gradually develop the Eurozone with the new French government, for example with the creation of a currency fund of their own." Such a move would likely be supported by French president Emmanuel Macron, who is desperate for further Eurozone integration. After being elected in May, the 39-year-old centrist vowed to push for major reforms of the EU "because France needs it".

GETTY Mrs Merkel's plans are likely to be welcomed by Emmanuel Macron