BERLIN (Reuters) - France and Germany will present proposals on a new comprehensive package for stabilizing the euro zone by the end of the month, French President Nicolas Sarkozy said on Sunday.
“We are very conscious that France and Germany have a particular responsibility for stabilizing the euro,” Sarkozy said at a joint news conference with Chancellor Angela Merkel in Berlin.
“We need to deliver a response that is sustainable and comprehensive. We have decided to provide this response by the end of the month because Europe must solve its problems by the G20 summit in Cannes,” he added, saying it was too early to enter into details.
The leaders suggested that their proposals would include a plan for recapitalizing European banks, accelerating economic coordination in the euro zone and dealing with Greece’s debt problems.
Reporting by Noah Barkin, Sarah Marsh, Andreas Rinke and Yann Le Guernigou