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PACT France, Germany to Help European Banks Axel Schmidt, dapd / AP Photo

France, Germany to Help European Banks

There are no details yet, but at least in principle the leaders of Germany and France reached an agreement Sunday to bolster European banks in order to rescue the continent from economic collapse. German Chancellor Angela Merkel and French President Nicolas Sarkozy had all along been arguing over how to recapitalize the banks, but after the latest round of talks the two said they will do what's "necessary," though they did not reveal any details. Guess we'll have to take their word for it.

October 9, 2011 2:35 PM