Aug 17, 2011
THE leaders of France and Germany tonight called on Eurozone nations to form a “collective government” to save the struggling currency.
French President Nicolas Sarkozy and German Chancellor Angela Merkel put forward the radical plan to balance the budgets of the 17 nations that use the crisis-hit single currency.
They said they want a “true European economic government” that would consist of the heads of state of all member nations.
The new body would meet twice a year and be led by EU President Herman Van Rompuy.
The dramatic move followed weeks of turmoil on the markets amid fears over Spain’s and Italy’s financial stability as well as the bailout for Greece.
This article was posted: Wednesday, August 17, 2011 at 3:46 am