France and Germany have reached a joint position on a second bailout for Greece ahead of the crisis eurozone summit in Brussels.
President Nicolas Sarkozy met with Chancellor Angela Merkel in Berlin to hammer our a rescue plan ahead of today’s crucial talks to discuss the region’s deepening debt crisis.
Earlier Commission President Jose Manuel Barroso met with Premier George Papandreou
to reassure him that Europe would find a way. He warned that failure to act would have global repercussions.
Although no details of the new Sarkozy, Merkel plan have been revealed it is believed it will include a contribution by Europe’s banking sector.