Italy, France affirm euro support amid crisis

AP News
Posted: Jul 31, 2012 9:44 AM
Italy, France affirm euro support amid crisis

PARIS (AP) — The Italian and French leaders are affirming their support for strengthening the eurozone, after a lunch meeting in Paris to discuss the continent's economic crisis.

Italian Premier Mario Monti says European leaders cannot "allow their attention to wander for even a minute" away from the currency union, where the number of unemployed was reported Tuesday at a record high.

French President Francois Hollande, standing at Monti's side, said there was significant progress toward strengthening the eurozone in recent weeks — a sign that the 17 countries that use the euro continue to want "a currency capable of giving Europe a coherent plan."

Economies across the region face deepening recessions, especially in Spain and Italy, where financial collapse could tear the 13-year old currency union apart and radiate through the global economy.