Leaders back crisis rescue plans

The leaders of Germany and France are welcoming plans by Italy and Spain to cut their budget deficits and improve their competitiveness, and are urging “complete and speedy” implementation.

In a joint statement tonight, Angela Merkel and Nicolas Sarkozy underscored their commitment to “fully implement” decisions taken by a summit last month to give the eurozone rescue fund expanded powers – allowing it to buy bonds on secondary markets.