November 25, 2011 – 1:10 am
Nicolas Sarkozy announced at a meeting Franco-Germano-Italian in Strasbourg, France and Germany propose "in the coming days" measures to amend the treaties. This reform does not concern the ECB, however, because Berlin opposed. President Nicolas Sarkozy meets with German Chancellor Angela Merkel.
Germany, France and Italy, met Thursday in Strasbourg (east), expressed their determination to secure the future of the euro, if necessary by amending the European treaties, but without affecting the independence of the European Central Bank (ECB).
The three largest economies in the euro area are determined to "do everything to support and ensure the sustainability of the euro," said the French president told reporters at the end of the tripartite summit.
Mr."We all three indicated that respect for the independence of this institution, it was not to request positive or negative" to the ECB for its part has assured the French President.
Several French officials, including Foreign Minister Alain Juppe Thursday morning, however, have called for the ECB to play "a role" to save the euro area. This role would be to buy massive debt of the countries most vulnerable to stem the continued rise in rates on government bonds of several euro area countries, which penalizes their already fragile budgets. This rate increase, a sign of the distrust of the market against the euro area, is now affecting countries like France.
"We are all three very much aware of the seriousness of the situation," said
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