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Berlin summit:Merkel, Sarkozy in rescue talks

Monday, January 9, 2012

Photo: EPA 

France and Germany support proposals to further stimulate markets, tax financial transactions and ask the European Central Bank to assess the potential of what is known as the European Financial Stability Fund. They also hope the period before March will bring an EU pact on coordinating national budgets.

Chancellor Merkel and President Sarkozy spoke about this to the press after emerging from a Berlin summit on Monday.

The pact in question is expected to bring together 23 EU countries including all the 17 Eurozone members. The initial draft of it emerged at the latest EU summit in Brussels in December.

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