The strong two in the euro zone are joining ranks again, where the French President Nicholas Sarkozy joined Merkel's bid for a treaty change that will give powers to European authorities to intervene in national budgets of nations in the euro monetary union.

On Tuesday Sarkozy said that France and Germany will soon submit a proposal to amend the European Union treaty in light of the spreading sovereign debt crisis. He told an Asian forum in Paris that we will do everything not just to defend Europe but also to consolidate it.

About the treaty change Sarkozy said with (Chancellor Angela) Merkel, we will soon make proposals on modifying the treaties to prevent countries from diverging in the budgetary, economic and fiscal areas.