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| Germany and France Seek to Show United Front on Economy | Germany and France Seek to Show United Front on Economy |
| (35 minutes later) | |
| BERLIN — Top officials of German and France promised Monday to work together to revive the flagging eurozone economy, but they disappointed expectations that they might offer concrete proposals that would include higher spending on public works by Germany. | BERLIN — Top officials of German and France promised Monday to work together to revive the flagging eurozone economy, but they disappointed expectations that they might offer concrete proposals that would include higher spending on public works by Germany. |
| At a news conference, the finance and economy ministers of France and Germany offered a show of unity in an effort to rebut perceptions that they were no longer able to work together to prevent another recession in the eurozone. But they offered no specifics on Monday, promising instead to present concrete proposals by Dec. 1. | At a news conference, the finance and economy ministers of France and Germany offered a show of unity in an effort to rebut perceptions that they were no longer able to work together to prevent another recession in the eurozone. But they offered no specifics on Monday, promising instead to present concrete proposals by Dec. 1. |
| “When France and Germany work together, all of Europe benefits,” Michel Sapin, the French finance minister, said at a joint news conference with his counterparts in Berlin. He and Finance Minister Wolfgang Schäuble of Germany acknowledged that the eurozone economy had weakened. | “When France and Germany work together, all of Europe benefits,” Michel Sapin, the French finance minister, said at a joint news conference with his counterparts in Berlin. He and Finance Minister Wolfgang Schäuble of Germany acknowledged that the eurozone economy had weakened. |
| The announcement did nothing to bolster European stocks, which were already down on Monday, after a short-lived rally at the end of last week. With the Berlin news conference still in session, the Euro Stoxx 50 index, a eurozone benchmark, was down 1.44 percent. The CAC 40 index in France was off 1.33 percent, and the German DAX 1.52 percent lower for the day. | The announcement did nothing to bolster European stocks, which were already down on Monday, after a short-lived rally at the end of last week. With the Berlin news conference still in session, the Euro Stoxx 50 index, a eurozone benchmark, was down 1.44 percent. The CAC 40 index in France was off 1.33 percent, and the German DAX 1.52 percent lower for the day. |
| At the prospect of a third recession in the eurozone in five years, a debate has swirled over where new growth might come from. While Germany continues to press France and other countries whose budget deficits grew during the crisis to show more budgetary discipline, a number of countries have pushed Germany to take the lead on spending. | At the prospect of a third recession in the eurozone in five years, a debate has swirled over where new growth might come from. While Germany continues to press France and other countries whose budget deficits grew during the crisis to show more budgetary discipline, a number of countries have pushed Germany to take the lead on spending. |
| Last week, the International Monetary Fund joined that call, asking Germany to increase spending on infrastructure amid signs that its economy — the largest in the eurozone — was also slowing. | |
| On Sunday, Mr. Sapin, and the French economy minister, Emmanuel Macron, called on Germany to invest at least 50 billion euros, or $63.8 billion, through 2017 to offset the €50 billion in spending cuts that France has planned in the same period to meet Berlin’s demands for deficit reduction. | On Sunday, Mr. Sapin, and the French economy minister, Emmanuel Macron, called on Germany to invest at least 50 billion euros, or $63.8 billion, through 2017 to offset the €50 billion in spending cuts that France has planned in the same period to meet Berlin’s demands for deficit reduction. |
| “It is in our collective interest that Germany invests,” Mr. Macron said in a joint interview with Mr. Sapin in the German daily Frankfurter Allgemeine Zeitung. | “It is in our collective interest that Germany invests,” Mr. Macron said in a joint interview with Mr. Sapin in the German daily Frankfurter Allgemeine Zeitung. |
| But on Monday, at least, Germany was not yet willing to make such a commitment. | But on Monday, at least, Germany was not yet willing to make such a commitment. |