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Leaders gather for eurozone summit

21st July 2011

France and Germany have agreed on a joint position hours before emergency talks in Brussels today, where eurozone leaders have been urged to "do what it takes" to ensure the stability of the single currency.

French president Nicolas Sarkozy and German chancellor Angela Merkel held talks for seven hours in Berlin before today's summit.

In a statement, the French president's office said the two leaders "reached agreement on a common Franco-German position", without saying what the position was.

Today in Westminster the House of Lords EU Economic and Financial Affairs and International Trade Sub-Committee published a report that said the credit rating agencies are not to blame for the eurozone's debt crisis.

The agencies have caused controversy each time they downgraded further the sovereign debt ratings of Greece, Ireland and Portugal. But the Committee says the downgrades "merely reflect the seriousness of the problems" in some Member States.

Parliament has risen for the summer recess but David Cameron is still under some pressure over his relationship with News International.

During yesterday's Commons debate on phone hacking the prime minister told Mps he had not had any "inappropriate" discussions with executives from the company over their bid to take control of BskyB.

And culture secretary Jeremy Hunt told MPs: "The discussions the Prime Minister had on the BSkyB deal were irrelevant.

But Labour jumped on the remarks claiming it was the first time the government had admitted that Cameron had discussed the proposed takeover at all.

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