Friday, August 12, 2011

Sarkozy and Merkel will meet on 16 to discuss the governance of the euro area

The French president, Nicolas Sarkozy, will receive next Tuesday to German Chancellor Angela Merkel, to discuss a possible reform of the governance of the euro area, which the two leaders pledged last month make proposals. The French presidency said in a statement today that as announced following the European meeting on 21 July, these proposals are aimed at increasing "the reflection conducted by (the European Council President) Herman Van Rompuy." The Elysee said in its statement that Sarkozy and Merkel will meet next on 16 at 14:00 GMT on and then offer a joint press conference at 16:30 GMT, after which he will hold a working dinner.

The announcement of the meeting comes at a time when stock markets days accumulate and have sharp declines in banks, especially the French, and energy supply companies, the hardest-hit titles. The widespread fear of a new economic recession and rumors of a downgrade of the debt of France led European shares today fell more than 5% in a day of strong fluctuations in the imposition of the sales order after the lower open on Wall Street.

German government deputy spokesman, Christoph Steegmans, said today that the meeting will review the agreements reached at the summit of the eurozone for the second rescue package for Greece and the measures taken to strengthen the economic situation of the eurozone. He indicated that the two leaders intend to raise their joint proposals to Van Rompuy, according to the demand for it to members of the eurozone to present concrete plans.

In addition to these proposals, according to the Elysee, the French president and German chancellor will address "the main European and international issues of today, starting with the Middle East." In a joint statement released early August, the two leaders had called for an application "fast" the resolutions of the summit in July and bet that the parliamentary procedures in the two countries to be overcome before the end of September.

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