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France, Germany seek new EU treaty

France, Germany seek new EU treaty

05 December 2011 18:40 (UTC +04:00)

Baku-APA. France and Germany are set to propose a new European Union (EU) treaty, French President Nicolas Sarkozy said after a meeting on Monday with German Chancellor Angela Merkel in Paris, APA reports quoting Xinhua.

"The goal that we have with the chancellor is for all of an agreement to have been negotiated and concluded between the 17 members of the eurozone in March," Sarkozy said.

He indicated that the proposal of issuing eurobonds will not be a solution to the European sovereign debt crisis.

Both France and Germany favor automatic sanctions against eurozone members that do not respect fiscal discipline, he said.

The two leaders agreed to meet every month until the debt crisis ends.

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