French President Nicolas Sarkozy and German Chancellor Angela Merkel have "agreed to provide a global and ambitious response to the current crisis in the euro area" and expected quick adoption of other European peers, according to a Franco-German statement published by the Elysee Place on Thursday. The two leaders made an agreement addressing the euro area crisis in a telephone talk preparing for the upcoming eurozone summit in Brussels, the joint statement said. The "global and ambitious response" comprises three major elements, which are operational implementation of expanded European Financial Stability Facilities, "a plan to strengthen the capital of European banks," and the implementation of the euro area economic governance and the strengthening of economic integration, according to the statement. As to embattled Greek authority, which has carried out a series of austerity measures but still faces armies of protesters, French and German leaders urged the government to "immediately undertake negotiations with the private sector to reach an agreement for strengthening sustainability." They also agreed that all elements of the agreement need further and in-depth discussion at the European summit on Sunday, expecting wider approval by other European leaders before the next gathering no later than Wednesday, the statement said. Leaders of the Euroepan bloc will meet on Sunday in a fresh effort to accelerate Greece's next aid payment to avoid default and stem the debt crisis. Germany and France, two largest powers in the area, are playing key roles in promoting concrete economic and political support to secure the integration of the one-currency bloc.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor