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.