French President Nicolas Sarkozy (R) greets German Chancellor Angela Merkel (L)
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Merkel and Sarkozy discuss eurozone changes

The leaders of France and Germany say the EU needs a new treaty to deal with the eurozone debt crisis.

The statement from French President Nicolas Sarkozy and German Chancellor Angela Merkel came after they held crisis talks in Paris.

Eurozone states should face greater checks on their budgets and sanctions if they run up deficits, they said.

Mr Sarkozy said talks on a new treaty should be completed by March, to ensure such a crisis never happened again

Gavin Hewitt reports.

  • 05 Dec 2011
  • From the section Europe
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