French, German cabinets to meet Monday on crisis

3rd February 2012, Comments 0 comments

President Nicolas Sarkozy and Chancellor Angela Merkel will preside over a joint Franco-German cabinet session Monday to focus on the eurozone economic crisis, Sarkozy's office said.

Nine French and eight German ministers will take part in the meeting, the 14th annual such session.

The French presidency said the meeting will focus on "deepening Franco-German cooperation in all areas" particularly in "fiscal convergence."

France and Germany have been leading efforts to address the eurozone crisis by forging new European Union rules requiring tighter fiscal discipline so as to reduce debt.

The two countries have also proposed unifying their corporate tax systems and are pushing for a Europe-wide tax on financial transactions.

Sarkozy and Merkel will hold a press conference and then conduct a joint interview with French and German television. Merkel's party has said she will actively support Sarkozy in April's French presidential election.

© 2012 AFP

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