All countries that use the euro should have mandatory balanced budgets and better coordination of economic policy, the leaders of France and Germany said today, pushing for long-term political solutions instead of immediate financial measures like a single European bond.
French President Nicolas Sarkozy and German Chancellor Angela Merkel also pledged to harmonise their countries' corporate taxes in a move aimed at showing the eurozone's largest members are "marching in lockstep" to protect the euro.
Both leaders stressed their commitment to defending the common currency, a cornerstone of integration on this long-fractured continent. They presented their proposals after meeting today in Paris amid signs of economic slowdown, and after an exceptionally turbulent week on financial markets prompted by concern about Europe's financial health. More...
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French President Nicolas Sarkozy and German Chancellor Angela Merkel also pledged to harmonise their countries' corporate taxes in a move aimed at showing the eurozone's largest members are "marching in lockstep" to protect the euro.
Both leaders stressed their commitment to defending the common currency, a cornerstone of integration on this long-fractured continent. They presented their proposals after meeting today in Paris amid signs of economic slowdown, and after an exceptionally turbulent week on financial markets prompted by concern about Europe's financial health. More...
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