German Chancellor Angela Merkel and French President Nicolas Sarkozy have hammered out a common position on the euro debt crisis. A statement by the French president's office said agreement had been reached after seven hours of talks in Berlin. It comes ahead of a crunch meeting of eurozone leaders to resolve the Greek debt crisis and prevent further contagion to other eurozone economies. Details of the deal have not yet been released. Policymakers are set to discuss a range of measures at the meeting later today, including a new loan package to Greece and the role of private investors in
any debt restructuring. Reports suggest a new tax on banks will also be debated. But German Chancellor Angela Merkel has cautioned against over optimism.

Pray: for the discussions taking place that God would overrule and grant His wisdom. (Is.64:4)

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