Sarkozy and Merkel hold first 2012 crisis talks

German and French leaders have held their first euro crisis meeting of 2012. Among the issues discussed in Berlin by Chancellor Angela Merkel and President Nicolas Sarkozy were: new rules for budget discipline, how to stimulate growth, a controversial financial transaction tax and the need to press ahead with treaty changes .

“We hope that decisions on the inter-governmental treaty to stabilise the euro will be taken over the next few days and that it will be signed on March 1,” said President Sarkozy.

He then added: ‘We agreed we anticipate the implementation of the mechanism for the stability fund to be July 2012, and we are ready to accelerate its capitalisation.”

They also found time to warn Greece that the debt stricken nation must meet the terms of its bailout if it is to receive the next tranche of payment.

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