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Sarkozy, Merkel agree on rescue package

02:32

France and Germany have agreed on how to tackle the rising debt crisis. Nickolas Sarkozy and Angela Merkel set out plans for a new treaty, that will mean stricter controls on each nation's budget--and harsh punishments for those that don’t stick to them. their proposals will be considered at a big EU summit later in the week. ITN’s James Mates reports.