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.