Monday, December 5, 2011

France and Germany want new EU deal - 5th Dec 2011

The leaders of Germany and France have called for a new European Union treaty to ensure that the region's debt crisis never happens again.

French president Nicolas Sarkozy said after meeting German chancellor Angela Merkel that they would prefer a treaty agreed by all 27 members of the European Union but would also accept a treaty among just the 17 countries that use the euro.

The new treaty should include automatic sanctions for countries that violate rules meant to keep government deficits in check.

The meeting comes at the start of a crucial week for the eurozone, as it struggles to convince markets that it is able to solve its debt crisis. Source