Merkel: There is political will to fight debt crisis

The German Chancellor Angela Merkel has said Europe has the "political will" to combat its debt crisis.

Little detail has emerged as to what is proposed by France and Germany to deal with the crisis.

Germany says the plan will focus on four areas: recapitalising banks; defining the way the European bailout fund should work; supporting the work of international auditors in Greece and toughening the EU's rules on debt.

Angela Merkel said that Europe's ageing population makes it more difficult to reduce public debt.