France, Germany commit to eurozone

FRANCE and Germany have insisted they remain committed to the eurozone, despite growing turmoil inside the single currency market.

In a joint statement released late last night, the leaders of the largest single currency area economies said they still believe the euro is the best approach for all member states.

The statement was made after an emergency telephone conference among the European Central Bank’s (ECB) 17 member states, which is expected to result in national bonds from Italy and Spain being purchased on the markets this morning in an attempt to solve both nations’ financial crises.