France, Germany Urge Swedish EU Presidency
France and Germany are intending to send a joint letter to current EU presidency holder Sweden, urging the bloc to hammer out on a common line ahead of the G20 summit in Pittsburgh later this month, news agency AFP reports.
French President Nicolas Sarkozy and German Chancellor Angela Merkel announced their plan after talks in the German capital Monday. Sarkozy added they had proposed an EU meeting for September 17.
The Pittsburgh summit is aimed at curbing the kind of excesses that brought the global financial system close to collapse last year. It follows similar gatherings in Washington in November and in London in April.
Merkel said France and Germany wanted measures on financial regulation agreed at the London summit April to be implemented fully, for progress on limiting bankers' bonuses and to ensure that no bank can get so big that it can “blackmail a government." (ah)