France, Germany Pledge To Stabilize Eurozone
STEVE INSKEEP, host: NPR's business news starts with talk of European cooperation.
(SOUNDBITE OF MUSIC)
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.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.