Merkel and Hollande hold their first talks on euro crisis
German Chancellor Angela Merkel met new French President Francois Hollande Tuesday for their first-ever talks set to be dominated by differences over crisis remedies for Europe as the risk of a Greek eurozone exit piles on the pressure.
After the collapse of talks in Athens on forming a new government, forcing new elections, Merkel will have to to overcome a rift with the newly sworn-in French leader over the eurozone's economic roadmap.
Their talks were expected to last around one hour to be followed by a news conference and working dinner.
While Merkel has championed austerity through belt-tightening and debt reduction to battle the crisis dogging the 17-nation eurozone, the Socialist Hollande swept to victory on a pledge to refocus EU fiscal efforts on growth.
Since his May 6 routing of Nicolas Sarkozy, both Berlin and Paris have publicly dug their heels in over their respective positions, talking tough on policy ahead of their meeting.
Just hours before his arrival, Hollande reiterated his vow to turn the page on austerity and invest for the future, saying he would propose to France's partners "a new pact that links a necessary reduction in public debt with indispensable economic stimulus".
Sources:
Yahoo! News South Africa
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