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France/Germany/Italy/Euro Area

Published on November 18, 2011
Economic and financial situation in the Euro Area/telephone conversation between Nicolas Sarkozy, President of the Republic, Angela Merkel, Chancellor of Germany, and Mario Monti, Prime Minister of Italy – Joint communiqué

Paris, November 17, 2011

President Sarkozy, German Chancellor Angela Merkel and Italian Prime Minister Mario Monti had a telephone conversation this evening.

President Sarkozy and Chancellor Angela Merkel congratulated Mario Monti on his appointment and his resolve to take all the necessary measures without delay. They gave him their fullest support.

The three leaders had an in-depth conversation on the economic and financial situation in the Euro Area. They agreed on the need to speed up the implementation of the measures adopted both at the level of the European Union and the Euro Area countries and at the G20 summit in Cannes, to ensure the Euro Area’s financial stability and growth.

Prime Minister Monti told his colleagues about his plans to restore confidence in the markets and straighten out Italy’s economic situation. He confirmed that he is totally determined to act decisively to ensure budgetary consolidation and adopt the structural reforms that will enable growth to be restored in a way that is socially fair.

President Sarkozy, Chancellor Angela Merkel and Prime Minister Monti confirmed that Germany, France and Italy – three founding states of the European Union and the three largest economies in the Euro Area – will shoulder all their responsibilites in order to ensure the stability, prosperity and strength of the Euro Area as a whole./.

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