PARIS - France and Germany have agreed on a series of reforms to address the euro zone sovereign debt crisis that will be presented to EU President Herman Van Rompuy on Wednesday, French President Nicolas Sarkozy said after a meeting with German Chancellor Angela Merkel on Monday."We want to make sure that the imbalances which led to the situation in the euro zone today cannot happen again," Sarkozy told a news conference.RELATED:Europe: a second chance? [Premium]"Therefore we want a new treaty, to make clear to the peoples of Europe, members of Europe and members of the euro zone, that things cannot continue as they are," he added.var ord = window.ord || Math.floor(Math.random() * 1e16);document.write('');Sarkozy said that the new proposals would include a modified EU treaty, ideally for all 27 EU members, but that they were also ready to draw up a treaty for the 17 euro zone members though this would be open to others. This treaty would include automatic sanctions for states who fail to meet the 3 percent deficit rule, as well as a budget-balancing rule across the euro zone.
