PARIS - the leader of the France and Germany on Tuesday promised concrete steps towards a closer political and economic Union of 17 countries which use the euro, but it is unclear whether their proposals would be enough, or fast enough to meet markets worried about debt and listless economies of Europe.
In view of the uncertainty, indexes in the United Kingdom and Germany in the afternoon, but French and Italian shares with modest gains were mixed European stock markets on Wednesday, down. The answer seemed to show that the two leading announcement had initially failed as a market to facilitate nervousness.
"To the new policy to solve the immediate debt problems, it was little new," analysts at Nomura said Wednesday in a note.
Balanced budgets and debt reduction, a degree of discipline far beyond the current anchor President Nicolas Sarkozy called France and German Chancellor Angela Merkel of Germany for each nation in the euro area to a 'golden rule' in their national constitutions in the direction often broken commitment to work.
She promised, press for a new tax on financial transactions and for regular Summit of the zone members under the leadership of Herman van Rompuy, who all 27 European Nations heads the Council.
Mr Sarkozy said "We certainly greater economic integration in the euro area are heading,".
The long-awaited meeting in the Élysée Palace here produces little that would seem to suppress the nerves of the bond traders, who have become increasingly concerned that the economic slowdown in Germany and France make it more difficult for Europe's debt crisis to overcome.
Excluded, that both leaders issuing collective bonds, known as Eurobonds, to share responsibility in the Member States for public debt and against a further increase in the a bailout Fund be placed until the end of September at the earliest in place.
Frau Merkel repeated, that there "no wand" to solve the problems of the euro, argue that she improved with the passage of time budget discipline, competitiveness and economic growth among weaker States must be met.
The stronger members of the eurozone have deadlock. According to official data released Tuesday showed that growth in the area of the lowest in two years in the second quarter and that fell Germany-, the continent of the locomotive - came almost to a standstill by 0.1 percent.
The German figures followed data show that the French economy was flat in the second quarter stagnant leave Europe's two largest economies. This means that the two pillars of the European economy may be less willing and able to support, warned weaker counterparts, analysts.
In the euro area, gross domestic product rose only 0.2 percent in the second quarter from the first, when growth had expanded by 0.8 percent, according to Eurostat, statistics of the European Union Agency.
The common Franco-German proposals were so modest as German officials had predicted. And the most ambitious idea, that all States of the eurozone is to legally to bind balanced budgets and reduced sovereign debt - is unlikely to be accepted by all Member States. It can get even by the French constitutional process because Mr Sarkozy has no a constitutional majority in Parliament.
The proposal calls for bi-annual meetings and greater integration of the "two-speed Europe" reform could - from those in the euro area and outside it - that many warned if the European Union expanded so quickly after the collapse of the Soviet Union in the early 1990s.
Both leaders said that France and Germany must set a good example, citing their agreement together until 2013 as an "example of convergence" in the entire euro area needed propose a financial transactions tax. But such a tax is unlikely, that in the larger European Union, especially when Great Britain, which includes outside the euro area to resist largest financial centre in Europe, continue to the idea.
They also said she would work to French and German economic evaluations to harmonise and into the future, corporate tax rates.
"France and Germany committed to strengthen the euro," said Frau Merkel. "For this purpose we our economies better must integrate" and "to see that on the stability pact will be traded."
The stability pact, a key element of the Treaty that established the euro zone, seat to keep obliged Member budget deficits to 3 percent of gross domestic product a year and a sovereign debt below 60 percent of the G.D.P. both benchmarks are regularly missed.
Steven Erlanger reports from Paris and Jack Ewing from Frankfurt.
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