7 Feb 2011

Eurozone competitiveness pact proposed

12:29 pm on 7 February 2011

France and Germany have proposed a competitiveness pact aimed at eliminating policy differences that have weakened the eurozone.

The pact could mean the 17 eurozone governments following Germany's example by making it a constitutional violation to exceed limits on national debt.

The plans met resistance during talks on the sidelines of a summit in Brussels at the weekend.

There was talk of holding a special eurozone summit next month, but no decision was made.