France, Germany to push for EU treaty reform

French President Nicolas Sarkozy and German Chancellor Angela Merkel held crisis talks in Paris on Monday, after which they issued a statement saying the EU needs a new treaty to deal with the eurozone debt crisis. Merkel and Sarkozy say they would prefer to see treaty changes implemented by all 27 EU member states, not only the 17 states which have adopted the euro. Some of the specifics of their treaty-toughening proposals include greater checks on eurozone member states' budgets and sanctions if those same run up deficits. The Paris talks come ahead of a major EU summit on Friday.