French, German leaders reject European rescue fund

By The Associated Press Published: October 11, 2008
COLOMBEY-LES-DEUX-EGLISES, France - 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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