Hollande, Merkel vow to save euro

German Chancellor Angela Merkel and French President François Hollande pledged to do "everything to protect the eurozone" after telephone talks Friday.

Reuters/Jacky Naegelen

“Germany and France are deeply committed to the integrity of the eurozone. They are

committed to do everything to protect the eurozone," the two leaders said a joint declaration released in Berlin.

Markets perked up on Friday after European Central Bank boss Mario Draghi’s promise to “do whatever it takes to preserve the euro” at a conference in London Thursday.

On Wednesday Hollande called for the speedy implementation of the pro-growth measures agreed with eurozone leaders shortly after his election – a package that had met some resistance from Merkel and other German politicians.

French oil gian Total announced Friday that its 2012 second quarter profit plummeted 42 per cent to 1.6 billion euros.