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France, Germany Pledge To Stabilize Eurozone

Oct 10, 2011
Originally published on October 10, 2011 12:22 pm
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STEVE INSKEEP, host: NPR's business news starts with talk of European cooperation.

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INSKEEP: Leaders of Europe's two biggest economies, France and Germany, met in Berlin over the weekend. The eurozone's most powerful nations have been at odds over who should take the lead in shoring up European banks and how to respond to Greece's debt crisis. French banks in particular have a large exposure to Greek debt. French President Nicolas Sarkozy and German Chancellor Angela Merkel pledged to work together on a comprehensive package to stabilize the euro.

While the two did not offer much in the way of details, they did announce a deadline to release those details, by the start of next month's G20 meetings in France - meaning the world's largest economies. That was enough to give markets in Europe a boost when they opened today. Transcript provided by NPR, Copyright NPR.