News / Europe

French, German Leaders Agree on European Debt Plans

German chancellor Angela Merkel, right, and French President Nicolas Sarkozy talk to the media after a meeting on the financial crisis in Berlin, Germany, Sunday, Oct. 9, 2011.
German chancellor Angela Merkel, right, and French President Nicolas Sarkozy talk to the media after a meeting on the financial crisis in Berlin, Germany, Sunday, Oct. 9, 2011.
Lisa Bryant

French and German leaders say they will present plans to stabilize the crisis-stricken eurozone by the end of the month. The agreement by Europe's two economic powerhouses comes ahead of a key Group of 20 summit early next month.

At a news conference in Berlin with German Chancellor Angela Merkel, French President Nicolas Sarkozy said the two leaders agreed on ways to halt the debt crisis spreading across the 17 nations sharing the euro currency.

Mr. Sarkozy said the measures include recapitalizing shaky European banks, which he said is critical to ensure that the European economy grows and prospers.

The latest bank to be hit by the financial crisis is the Franco-Belgium bank Dexia. The French, Belgium and Luxembourg governments reached agreement Sunday to dismantle the bank.

Mr. Sarkozy said Paris and Berlin are waiting for a report by financial experts on Greece's progress in implementing key reforms in order to receive another installment of bailout funds. But he said the two nations agreed on finding a lasting and global response to the debt crisis.

The crisis that has hit both shaky European economies like Greece and Portugal and a number of European banks that have lent them money has sparked growing alarm, not only in Europe but also overseas. U.S. President Barack Obama has urged the Europeans to come up with a plan to resolve the spreading crisis before an early November summit of the Group of 20 leading economies.

Mr. Sarkozy vowed that Europe will have resolved its problems before the G20 summit, which takes place in the French resort town of Cannes. European leaders are certain to be discussing ways to do so when they meet in Brussels later this month.

You May Like

Ebola Death Toll Nears 5,000 as Virus Advances

West Africa bears heaviest burden; Mali toddler’s death raises new fears More

Jordan’s Battle With Islamic State Militants Carries Domestic Risks

Despite Western concerns that IS militants are preparing a Jordanian offensive, analysts call the kingdom's solid intel a strong deterrent More

Asian-Americans Assume Office in Record Numbers

Steadily deepening engagement in local politics pays off for politicians like Chinese-American Judy Chu More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Talks to Resume on Winter Gas for Ukrainei
X
Al Pessin
October 25, 2014 4:21 PM
Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Talks to Resume on Winter Gas for Ukraine

Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video Comanche Chief Quanah Parker’s Century-Old House Falling Apart

One of the most fascinating people in U.S. history was Quanah Parker, the last chief of the American Indian tribe, the Comanche. He was the son of a Comanche warrior and a white woman who had been captured by the Indians. Parker was a fierce warrior until 1875 when he led his people to Fort Sill, Oklahoma, and took on a new, peaceful life. As VOA’s Greg Flakus reports from Cache, Oklahoma, Quanah’s image remains strong among his people, but part of his heritage is in danger of disappearing.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.

All About America

AppleAndroid