Europe's power couple got down to work on the nuts and bolts of the new treaty for euro zone countries that will, they hope, put the brakes on the sovereign debt crisis. A fiscal compact with penalties for euro zone countries that run deficits above three percent of GDP is the core of that treaty.
At a press conference after both Merkel and Sarkozy expressed confidence the treaty will be done and agreed on and ready for signature by March 1. Agreed on - probably. But my experience tells me to be slightly skeptical about ready for signatures on March 1.
More interesting news to those who follow this as a regular part of their daily existence was Merkel joining Sarkozy in endorsing a financial transaction tax, or Tobin tax, on all EU banks.