Chancellor of Germany Angela Merkel and French President Nicolas Sarkozy promised on October 9, to provide a "quick" proposal to resolve the crisis in the eurozone, but gave no details. Sarkozy announced, at a press conference after meeting with Merkel in Berlin, "long-lasting, comprehensive and fast proposal, before the end of the month," to make sure that "Europe attend G20 unity and with the problem solved".
French Chair 2011 a bunch of countries of the world's richest man and appears that leaders will meet in Cannes (southern France) on 3 and 4 November. U.S. President Barack Obama has urged the Nations of Europe that perform an action plan ready by that date.
The International Monetary Fund has called for a week for the recapitalisation of banks in Europe, as a matter of "urgency". Forecast of their needs for fresh funds by up to € 200 billion.
The second focus of the reform treaty will be Europe. France and Germany will propose "significant changes" to the texts, said Nicolas Sarkozy, the big idea "for the integration of the Euro zone". Angela Merkel added that "the goal is to have closer and binding cooperation between States of the Euro zone" to avoid overspending.
The two partners also agree fully on the need to consolidate the financial stability of European facilities (EFSF), which provides support for the debt-ridden requirements of members of the Eurozone. Merkel welcomed the fact that the consolidation of the EFSF decided on July 21, will "soon be recognized by all members," Although ratification was still stumbling in Slovakia's reluctance. Fund "should have the means to act," he said, paving the way for further technical reform of these instruments. Sarkozy assured that Paris and Berlin had been "identified proposals" to improve the action of the EFSF.