EUROPE: The FT writes Monday that Germany and France.

EUROPE: The FT writes Monday that Germany and France are planning to
launch a sweeping new initiative to reinforce economic co-operation and
surveillance within the eurozone, including the establishment of a
European Monetary Fund, citing senior government officials. Their
intention, the report says, is to set up the rules and tools to prevent
any recurrence of instability in the eurozone stemming from the
indebtedness of a single member state, such as Greece.