January 9, 2012
Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France warned Greece on Monday that it needed to move forward with promised reforms or risk losing the next installment of badly needed bailout funds.
The leaders of the European Union’s two largest countries met in the German capital to discuss their next steps in combating the sovereign-debt crisis that has destabilized the Continent and threatened the common currency. Even as Mrs. Merkel and Mr. Sarkozy promised quick action to stem the crisis, investors signaled the depth of their ongoing concern over the instability that has spread from Greece to the very heart of the euro zone by purchasing German debt at a negative real interest rate for the first time ever.
Speaking at a news conference after the two leaders met at the chancellery building here, Mr. Sarkozy acknowledged the uncertainty in the markets, saying, “The situation is very tense, very tense.”
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