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French, German Finance Ministers Say Greece Should Stay In Eurozone

5/21/2012 12:40 PM ET

Finance Minsters of France and Germany have agreed that Greece should stay in the eurozone.

France's new finance minister Pierre Moscovici and his German counterpart Wolfgang Schaeuble made the stand of their governments clear at a joint news conference in Berlin after holding talks in the German capital on Monday.

The two ministers also discussed the idea of introducing the so-called Eurobonds in the Eurozone to fight the debt crisis.

Schaeuble reaffirmed Berlin's opposition to the idea, while Moscovici favored the instrument.

The topic will be discussed at Wednesday's informal European Council meeting.

Moscovici described his talks with Schaeuble as "constructive."

Germany and France, Eurozone's two major players, are ruled by opposite political camps. However, Moscovici and Schaeuble stressed that this will not prevent them from developing a close working relationship.

The first Socialist Government to rule France in 17 years assumed power last week under the leadership of President Francois Hollande.

As leader of the eurozone's second-largest economy after Germany, Hollande's stance is seen as crucial in deciding the fate of the eurozone.

by RTT Staff Writer

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