German Chancellor Angela Merkel on Thursday defended an economic pact for the eurozone, on the eve of a European Union summit where France and Germany were expected to table such a proposal. Such a pact would be an "important signal," dpa cited Merkel as saying at a joint press conference with Spanish Prime Minister Jose Luis Rodriguez Zapatero during a six-hour official visit to Spain. Europe needed to unify social and taxation systems, wage costs, and to raise retirement age, Merkel said. However, the chancellor said she did not expect concrete details to emerge before March. Merkel gave her backing to the economic reforms adopted by Zapatero, saying they would "turn Spain's future in a better direction." -- SPA
