FXstreet.com (San Francisco) - German Chancellor Angela Merkel and French President Francois Hollande said that their countries have agreed to a timetable to achieve the banking union and that changes in the Treaty for this action are not needed. However, Merkel said that countries cannot have more solidarity of the European Union without limitation of sovereignty.
France and Germany also supported the idea of a President of the Eurogroup full time and not current Ministers who must divide his time between Affairs of their countries and Europe.
Hollande announced that France is going to reform pensions by the end of 2013. This decision was supported since the country obtained two years more to reduce the deficit.
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