Leaders of Germany and France Promise Closer Economic Cooperation‚ Rules Out Issuing Common Bonds
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- Leaders of Germany and France Promise Closer Economic Cooperation‚ Rules Out Issuing Common Bonds
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저작자 미상 (저작물 2267374 건)
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- 2011-08-17
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Under pressure to counter the spreading European debt crisis‚ the leaders of Germany and France vowed to stand side-by-side in defending the euro through closer eurozone integration.
Following a meeting in Paris on Tuesday‚ German Chancellor Angela Merkel and French President Nicolas Sarkozy pledged to prepare annual budgets on harmonized economic outlooks and work towards a common corporation tax by 2013.
[Interview : Nicolas Sarkozy‚ French President] "We want to express our absolute will to defend the euro and assume Germany and France's particular responsibilities in Europe and have on all of these subjects a complete unity of views."
Among the proposals put forth by the two leaders were creating a real economic government for the 17 European states and holding biannual eurozone summits.
[Interview : Nicolas Sarkozy‚ French President] "This economic government will be made up of a .. of heads of state and government that will meet twice a year‚ and more if necessary. It will elect a a stable president for two and half years."
However‚ Sarkozy and Merkel stopped short of issuing joint euro bonds‚ suggesting that the focus should be on further economic integration rather than signing bailout checks.
The German leader said the issuing of euro bonds will be left as a last resort.
[Interview : Angela Merkel‚ German Chancellor] "I neither think that Europe is at the point of needing its last resort‚ nor do I think that we can solve these problems with what I have called a bang. I do not think euro bonds will help us in this."
However‚ it looks like the agreements were not enough to ease worries about the current market chaos.
Following the announcement‚ US stocks dropped more than one percent‚ and the euro slid‚ suggesting that many had viewed a joint euro bond as the only way out from the current fiscal turmoil.
Hwang Sung-hee‚ Arirang News.
Reporter : ssung86@arirang.co.kr
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