AVA MARIA - by Helene Fischer - video ~ link
Their message was that the focus should be on further economic integration rather than signing bailout cheques, and suggested that straying from euro zone rules and fiscal targets would no longer be tolerated.
France and Germany call for 'collective economic government' in desperate b id to save Euro Zone ~ link ~ President Nicolas Sarkozy and Chancellor Angela Merkel put forward the scheme at a meeting in Paris following a bilateral summit today.
Eurozone second quarter GDP growth slows to 0.2 percent ~ link ~ The euro zone economy grew less than forecast in the second quarter, held back by a sluggish performance in Germany and stagnation in France, data from the European statistics agency showed on Tuesday.
Europe: Growth grinds to a halt ~ link ~ Sarkozy has been pushing for a more centralised system of controls across the eurozone, better able in Paris' eyes to protect against future meltdowns.
But Merkel - and German voters - oppose any bid to create what they dub a "transfer union" in which Germany's powerful export-led economy effectively underwrites its underperforming eurozone partners.