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Leaders of Germany and France Promise New Crisis Package
Published in Saudi Press Agency on 10 - 10 - 2011

AlQa'dah 12, 1432, Oct 10, 2011, SPA - The leaders of Germany and France promised on Sunday to unveil a new comprehensive package for solving the euro zone's debt crisis by the end of the month, Reuters reported.
German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks in Berlin their goal was to come up with a sustainable answer for Greece's woes, agree how to recapitalize banks and present a plan for accelerating economic coordination in the euro zone by a G20 summit in Cannes on Nov. 3-4.
"We are very conscious that France and Germany have a particular responsibility for stabilizing the euro," Sarkozy told a joint news conference.
"We need to deliver a response that is sustainable and comprehensive. We have decided to provide this response by the end of the month because Europe must solve its problems by the G20 summit in Cannes."
Sarkozy will host the Cannes summit.
Merkel said France and Germany were working on steps to boost economic coordination in the euro zone and said their proposals would necessitate changes to the bloc's Lisbon Treaty.


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