21 Jul '11, 12am

Merkel, Sarkozy agree on Greek rescue package

BERLIN: German Chancellor Angela Merkel and French President Nicolas Sarkozy agreed early Thursday on a "joint position" concerning a Greek rescue package, a French delegation source said. This position, reached after hours of discussions, would be submitted to EU president Herman van Rompuy overnight and would be the basis for discussions among eurozone leaders in Brussels on Thursday, the source said. Sarkozy and Merkel met in Berlin on Wednesday and were joined in the evening by European Central Bank (ECB) chairman Jean-Claude Trichet. The aim of their discussions was to find a Franco-German position that would be given the go-ahead by the ECB to save debt-ridden Greece and contain the debt crisis that has shaken the eurozone countries. "Germany and France ... must agree. If this does not happen then we can't make progress in Europe. There is confidence on both sides th...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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