Sarkozy and Merkel push euro unity, no joint bonds

France and Germany unveiled far-reaching plans on Tuesday for nearer euro zone integration and said joint euro bonds may be a longer-term option, exit the currency area vulnerable to more attacks from traders.

Under heavy pressure to restore confidence in the euro zone subsequent a dramatic market slump, President Nicolas Sarkozy and Chancellor Angela Merkel stopped small of increasing the bloc's rescue fund but vowed to stand side-by-side in defensive the euro and laid the groundwork for future fiscal union.

Their message was that the focus be supposed to be on further economic integration rather than signing bailout checks, and optional that straying from euro zone rules and fiscal targets would no longer be tolerated,"We have exactly the similar position on euro bonds," Sarkozy told a joint news conference with Merkel after their talks,"Euro bonds can be probable one day, but at the end of the European integration development, not at the beginning."

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