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"Reaching a functional [fiscal] agreement already by the next [EU] meeting on Thursday is not out of the question"
- Elmar Brok, a German member of the European parliament
German chancellor Angela Merkel and French president Nicolas Sarkozy met on Monday to discuss how to promote Europe's economic growth and to finalize a deal on deeper fiscal union.
"Reaching a functional agreement already by the next [EU] meeting on Thursday is not out of the question," said Elmar Brok, a German member of the European parliament.
Merkel also warned Greece on the second bailout. "We must see progress on the voluntary restructuring of Greek debt," said Merkel at a joint news conference with Nicolas Sarkozy.
"From our point of view, the second Greek aid package including this restructuring, must be in place quickly. Otherwise it won't be possible to pay out the next tranche for Greece."