German Chancellor Angela Merkel held two hours of talks with French President Francois Hollande in Paris before departing for the European summit in Brussels Thursday night, the BBC reported.

The two remain at odds on how to move forward, with Germany opposed to pooling debt while France insists the euro zone needs further integration.

Merkel has warned there is no magic formula to solve the crisis.

Because I know the expectations and hopes that are pinned on this summit, I will repeat right at the start what cannot be said often enough, she said in Berlin before the Paris talks. There is no quick solution and no simple solution. There is no one magic formula... with which the government debt crisis can be overcome in one go.

Merkel left for Brussels without making further statements after meeting with Hollande but said progress for a pact for growth had been made and she hoped European leaders would adopt a 130 billion-euro ($162 billion) stimulus package.