Merkel urges for cooperation in letter to newly elected French president

  • German leader Angela Merkel has urged for cooperation to resolve the eurozone debt crisis in a letter written to newly elected French President Francois Hollande.

    Merkel has resisted appeals from Hollande to revise a European pact requiring government budget cuts.

    As part of his election campaign, Hollande had said he would look into renegotiating the pact, which requires governments to balance their budgets and focus on growth as opposed to austerity.