Overon

16-08-2011, Paris, France


French President Nicolas Sarkozy called a eurozone crisis meeting with his German counterpart while Italy promised cuts and tax hikes Thursday as its part in the battle to save the single currency.

Merkel will travel next Tuesday to Paris for the meeting aimed at producing "joint proposals" by September on how to better manage the euro and avoid future instability, Sarkozy's office said.

The announcement came as financial markets were again in turmoil on concerns that the US and eurozone debt crisis may spark a new recession and after rumours of a France credit rating downgrade and fears over Greek debt exposure.

Markets are wondering whether France and Germany -- the eurozone's two biggest economies -- can continue to underwrite other states' debts without losing their top credit ratings and falling victim to the crisis themselves.

The crisis started in Greece and is now fuelled by fears that Spain or Italy might default on their debt and possibly spark a break-up of the currency shared by 17 countries.

Paris is also working on new budget measures to be announced by the end of the month, after President Nicolas Sarkozy interrupted a holiday on the Riviera on Wednesday to fly back to Paris for an emergency government meeting on debt.

Sarkozy's intervention came as his ministers battled to head off speculation that France would be the next country to lose its top AAA status after the United States was stripped of the prized credit rating last week.


Overon will be offering a wide range of broadcast facilities from Elysee Palace:

- Live Stand-Ups Positions 16/9 and 4/3
- Play out multi-format (NTSC/PAL). SP/SX/BTD/DVCAM/DVCRO/P-2…
- Connectivity to the OVERON Global Network


To book or enquire about available facilities, please contact:


OVERON PLANNING
Tel.: +34 91 837 75 50
planning@overon.es