Germany, France Want E-U to Speak With One Voice

Following a meeting in Berlin, the leaders of France and Germany called on the European Union to present a common position at the G20 Summit in Pittsburgh September 24 and 25. French President Nicolas Sarkozy and German Chancellor Angela Merkel have proposed an E-U meeting September 17, a week before the G20 gathering. The main topic of discussion at the summit is expected to be reining in the types of excesses that led to the global financial crisis. President Sarkozy and Chancellor Merkel want financial regulations that were agreed upon at the G20 meeting in London in April to be fully implemented on such issues as limiting bankers' bonuses, making sure banks have sufficient resources to cover potential losses, and closely monitoring trading in risky assets.