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French, German leaders reject European rescue fund
The Associated Press , Colombey-Les-Deux-Eglises, France | Sat, 10/11/2008 9:09 PM | Business
French President Nicolas Sarkozy and German Chancellor Angela Merkel have rejected creation of a common financial rescue fund for Europe.
Sarkozy says that such a fund would pose "gigantic problems" coordinating the necessary rapid response among European nations.
Merkel says that "there is no question of a European fund."
The two spoke Saturday after commemorating the 50th anniversary of a meeting between former French President Charles de Gaulle and former German Chancellor Konrad Adenauer to seal reconciliation in the wake of World War II.
Merkel and Sarkozy say a common approach to the financial crisis will emerge from a Paris summit on Sunday of 15 leaders of the countries using the euro currency.
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