27 Nov '11, 12am

Germany, France leaders considering new stability treaty exclusive to only a few countries in the euro zone

Germany, France leaders considering new stability treaty exclusive to only a few countries in the euro zone

Chancellor Angela Merkel (R) and French President Nicolas Sarkozy are considering a new stability treaty that would be limited to only a few countries in the euro zone, according to a published report. -- PHOTO: AFP BERLIN (AFP) - Chancellor Angela Merkel and French President Nicolas Sarkozy are considering a new stability treaty that would be limited to only a few countries in the euro zone, according to a published report. In a story appearing in Sunday's Welt am Sonntag, the two leaders want a pact between their countries and some other nations including Italy. Paris and Berlin will make the proposal in the days ahead of the Dec 9 EU summit, government sources told the newspaper. The EU's current stability pact requires the 17 countries of the eurozone to limit budget deficits to three per cent of gross domestic product and debt to 60 per cent of GDP. A German governmen...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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