Merkel, Sarkozy Meet on Rescue

German, French leaders aim for stricter budget rules.

German Chancellor Angela Merkel and French President Nicolas Sarkozy plan to drive forward their agenda for stricter budget rules as they seek to craft a master plan for rescuing the euro over the next three months.

The euro rose as the two leaders met in Berlin to flesh out a rulebook for budgetary discipline negotiated at a Dec. 9 summit that seeks to create a “fiscal compact” for the 17-member euro area. At their first meeting of 2012, they also plan to discuss a financial-transaction tax, progress on Greece’s second bailout and a Jan. 30 European summit that will focus on bolstering growth, the German government said.

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