Merkel and Sarkozy will meet on Sunday as the Saturday's summit failed to show agreement between the two giant euro area countries regarding a comprehensive plan to resolve the two-year old debt crisis.

The offices of the two leaders announced that they need extra time to come out with the main points of the plan, where they will meet on Saturday evening also to continue their negotiations.

The differences and indecision between the two leaders is causing turbulences in markets.

However, Merkel's spokesman said the chancellor is confident that in this way, good, coordinated measures for the stability of the euro zone can be achieved.