Van Rompuy tipped to chair new 'economic government'

Twice-yearly meetings of the leaders of the 17 single currency states are to become the "cornerstone" of the new economic government of the eurozone, the leaders of France and Germany have said.

In a five-page letter to European Council President Herman Van Rompuy following their meeting on Tuesday (16 August) in Paris, Nicolas Sarkozy and Angela Merkel say the summits "will take place twice a year and,...