Changes To EU Arrangement Agreed

France, Germany and Italy have agreed to propose changing EU treaties to "improve governance" of the eurozone, the French President Nicolas Sarkozy announced on Thursday.

Speaking after meeting German Chancellor Angela Merkel and Italian Prime Minister Mario Monti in Strasbourg - their first meeting since Mr Monti became Italian Prime Minister – Mr Sarkozy said all three states were committed to saving the euro.

France and Germany would present "propositions for the modification of treaties" in the coming days while a final document is expected to go out to EU leaders by December 9.

It is not yet known whether the treaty changes could spark referendums in a number of EU member states. Any failure to ratify the new treaties could yet further turbulence for the eurozone.

In order to ensure solidarity as a turbulent period in Europe nears, the French and German leadership have agreed to stop arguing in public over whether the European Central Bank should do more to rescue the eurozone the deepening sovereign debt crisis.

Sarkozy and Merkel have had a number of less than friendly exchanges in front of the world's media, with major disagreements over the role of the European Central Bank (ECB) being the focus of their mutual ire.

However, speaking to news conference in the French city of Strasbourg, Sarkozy said: "We all stated our confidence in the ECB and its leaders and stated that in respect of the independence of this essential institution we must refrain from making positive or negative demands of it."

(DW)