To save the euro without losing the presidential election in 2012. Facing an election next year, Mr. Sarkozy is under even more domestic pressure than his German counterpart. There are differences between the two leaders' positions — Sarkozy has been more open to eurobonds than Merkel, for instance — but for now they are both singing from the same songbook. Alongside moves toward fiscal union in terms of budgetary oversight, there are also proposals for the creation of a common corporation tax rate, a very controversial move in Ireland, which is dependent on its low corporate rates, and a Tobin or "Robin Hood" tax on financial transactions.
Virginia Mayo/AP
