French President Nicolas Sarkozy made a desperate plea on Thursday to save the euro in a speech to fellow leaders of the center-right in Marseilles. "The entire world is watching. We must do everything" to save the euro, Sarkozy said. German Chancellor Angela Merkel echoed Sarkozy’s sentiment, saying, “We need to have more Europe” as the region battled the ongoing effects of the financial meltdown. At the same time as Sarkozy's and Merkel’s speeches, the European Central Bank cut its interest rates to 1 percent—a historic low. Merkel and Sarkozy spoke prior to an EU gathering set for Thursday afternoon in Brussels, where leaders are tasked with nailing down a deal to conquer the euro-zone debt crisis.