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International financial situation – Joint statement by M. Nicolas Sarkozy, President of the Republic, and Mrs Angela Merkel, Chancellor of Germany
Paris, 8 October 2008
Chancellor Angela Merkel of Germany and President Sarkozy of France today discussed recent developments in the financial crisis.
The two Heads of State fully approve the decisions taken by the Central European Bank both as regards the lowering of its base rate, decided in consultation with the central banks of Britain, Canada and the United States of America, and the considerable improvements made to the access of Euro Area banks to its refinancing facility.
Mrs Angela Merkel and President Sarkozy agreed that the actions of Germany and France in respect of the financial crisis would be totally coordinated./.