October 10, 2011Paris and Berlin are in favor of a recapitalization of banks
German Chancellor Angela Merkel said Sunday that Paris and Berlin were "determined to do what is necessary to recapitalize (them) to ensure the banks lending to the economy" during a joint press conference with Nicolas Sarkozy.
The latter assured that "the agreement was complete" between the two countries in this regard, while news reports had reported differences.
Europe will have its problems resolved by the G20 summit on November 3 and 4, Nicolas Sarkozy said Sunday. (related article link ~ G7 Meeting October 14-15 in Paris ~ G20 Meeting November 3-4-2011 in Cannes ...)
Paris and Berlin, he stated inter alia, are "willing to strengthen the capital structure of banks in Europe." They also offer a number of adaptations of European treaties to accelerate the integration of the euro zone, said Nicolas Sarkozy. "We will find solutions that will ensure the financial stability of Europe and the sustainable treatment of problems," he said.
The President and Chancellor, who had maintained for over an hour about the debt crisis in the euro zone before meeting the press, should continue their conversation during a working dinner.
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