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German Finance Minister Wolfgang Schaeuble met with his French counterpart Christine Lagarde in Paris on Wednesday to push for tougher sanctions on euro zone countries with high public deficits.
The ministers drew up proposals on how to change the 16-nation euro currency's stability pact. The pact puts limits on the countries' debts and deficits, but it failed to prevent the Greek financial crisis due to poor discipline for implementation.
In a joint document, they suggest "political sanctions" for those countries that fail to meet commitments.
Schaeuble also sat in with the French ministers during their weekly Cabinet meeting, a first in French-German relations.
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