France, Germany Vow ‘Comprehensive Response’ to Debt Crisis by November

Posted October 9th, 2011 at 2:20 pm (UTC-5)
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France and Germany are promising a “global, lasting and quick response” to the European debt crisis, with leaders of both countries saying they will present a plan to do so by the end of this month.

French President Nicolas Sarkozy spoke Sunday in Berlin, alongside German Chancellor Angela Merkel. The two leaders were holding emergency talks aimed at completing an agreement to ease the financial crisis, which has brought Greece to the brink of bankruptcy and posed serious threat to the stability of the euro currency.

Ms. Merkel said Paris and Berlin will continue to make proposals which promise “an even closer and more binding cooperation” on financial and economic policies.

The German leader declined to reveal details of the joint plan, saying it makes “no sense” to do so while work on it is still under way.

France hosts a summit of leaders from 20 industrialized and developing economies early next month, and Mr. Sarkozy said the joint response to the crisis must be in place by then.