European Central Bank
Germany and France are to submit a joint proposal on the future of Europe. The announcement was made by the leaders of the two countries, Angela Merkel and Francois Hollande on the occasion of the 50th anniversary of a landmark reconciliation accord.
The proposal is aimed at improving economic coordination and competitiveness in the European Union, the German chancellor disclosed. "We are aware of our great responsibility to improve the situation in the European Union, overcome the euro crisis and make possible economic growth — and so make workable for the future the tried and tested model of European life, linking competitiveness and economic strength with social cohesion," she stated.
"We have to give Europe confidence in its future," French president Hollande urged. "We will try to be as concrete as possible ... so that growth can be reinforced and stability guaranteed," he added.