Monday, October 10, 2011

Eurozone crisis: Merkel and Sarkozy 'agree key changes'





The German and French leaders will propose "important changes" to the way the eurozone operates after talks on controlling the bloc's debt crisis.

Chancellor Angela Merkel and President Nicolas Sarkozy said the aim was closer and more binding economic and financial cooperation between eurozone countries.

The leaders said they would give further details by the end of October.

The nations were "determined to do the necessary to ensure... recapitalisation of Europe's banks", Mrs Merkel added.

Germany and France have differed over how to recapitalise Europe's banks, said by some to require between 100bn (£86bn; $134bn) and 200bn euros to withstand the sovereign debt crisis.

SEE BBC NEWS: http://www.bbc.co.uk/news/world-europe-15226953

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