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3/22/09

Newsweekt: Economic Crisis Brings Sarkozy and Merkel Closer - by Tracy McNicoll

For the complete report from Newsweek.com click on this link

Economic Crisis Brings Sarkozy and Merkel Closer - by Tracy McNicoll

For all the destructive power of the economic crisis, there's one bridge it's rebuilding: Franco-German relations. French President Nicolas Sarkozy and German Chancellor Angela Merkel are making good on their promise to present a united front against the financial fallout. In a joint letter to the EU presidency last week, the leaders asserted that regulation and fiscal discipline would be their priorities, not new stimulus measures—a position at odds with the U.S. Meanwhile, Berlin gave Sarkozy the green light to cut the value-added tax on restaurant meals, after years of French pleading. The pair will cohost April's NATO summit, with Sarkozy describing his decision to rejoin the allied command as a "great element of the Franco-German friendship." "It's a courageous decision," Merkel gushed back. "We are delighted."

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