Eurozone Leaders Seek Better Economic Coordination

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BRUSSELS (AP) - Eurozone leaders say they've agreed in principle to coordinate their economies and take steps to make them more efficient as they try to find a way out of the debt crisis.

They also say they plan to enhance the flexibility and effectiveness of the currency union's bailout fund.

But they did not agree on any concrete measures at their summit Friday, putting off firm decisions for future summits later in the year.

French President Nicolas Sarkozy, German Chancellor Angela Merkel say governments should decide by the end of March on a so-called "pact for competitiveness" bringing the 17 countries that use the euro closer together in the way they run their economies.
  • CBSNews

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