France, Germany Pledge to Support Euro

After meeting to discuss the Euro ahead of a European Union meeting next week, French President Nicolas Sarkozy said that both he and German Chancellor Angela Merkel will “defend the euro, because the euro is Europe”.

Sarkozy also said that he and Merkel do not support the scheme to buy pan-European bonds as a way to provide cash to troubled European economies. The approach favored by by Sarkozy and Merkel is to first bring in fiscal restraints to address out of control spending.

Source: The Canadian Press

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