Merkel, Sarkozy stress growth a priority in crisis

Merkel, Sarkozy stress growth a priority in crisis

BERLIN (AP) — The leaders of France and Germany said boosting economic growth across Europe is a priority in their efforts to stem the debt crisis that is showing signs of spreading across the 17 countries that use the euro. Following a meeting in Berlin today with French President Nicolas Sarkozy, German Chancellor Angela Merkel also urged Greece and its private creditors to quickly agree the restructuring of the country’s national debt if it is to receive its next batch of bailout cash. In October, the eurozone agreed a second handout for Greece that involves the country’s private creditors accepting a 50 percent reduction in the value of their holdings of Greek debt.