Sarkozy, Merkel to meet Saturday ahead of new EU summit

20th October 2011, Comments 0 comments

French President Nicolas Sarkozy and German Chancellor Angela Merkel will meet Saturday to prepare a "global and ambitious answer" to the eurozone crisis ahead of a second EU summit on Wednesday, they said in a statement issued in Paris.

In the statement Thursday from Sarkozy's office, Paris and Berlin also called for "immediate negotiations" with the private sector "to find an agreement allowing to strengthen the sustainability" of Greek debt.

According to the statement, the two leaders spoke by telephone on Thursday and showed their "complete agreement to put forward a global and ambitious answer" to the eurozone debt crisis.

This will include "the operational implementation of new intervention methods of the EFSF (European Financial Stability Facility), a plan to reinforce the capital of European banks, the establishment of economic governance of the eurozone and the reinforcement of economic integration."

The two countries "have agreed that all of the elements of this global and ambitious answer will be profoundly examined during the summit on Sunday so they can be definitively adopted by the heads of state and government during a second meeting on Wednesday at the latest," the statement said.

It also called on Greece to "make ambitious commitments to rectify the situation in their economy in the framework of a new programme."

Steffen Seibert, spokesman for Chancellor Angela Merkel, told reporters in Berlin: "We have made enormous progress but not enough to take final decisions on Friday.

"In certain areas, we have reached agreement, in others, we are on the right track ... Europe needs answers that are carefully considered and serious," he said.

"We will have talks on Sunday and we will take decisions on Wednesday," he added.

© 2011 AFP

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