Reuters reports that Germany and France are seeking a radical push to promote fiscal integration among euro zone countries as a way to deal with the region’s fiscal crisis.

The news agency reported that efforts include securing an agreement among all 27 EU countries that will further tighten budget control over 17 euro zone nations.

German Finance Minister Wolfgang Schaeuble told ARD Television on Sunday that the goal is to enable euro zone countries to create a Stability Union.

Also on Sunday, French Budget Minister Valerie Pecresse said in a TV interview that an overhaul of the EU agreement is necessary to regain trust from the financial market. She added that a new, tougher version of the bloc's Stability Pact on budgetary rules is about governance with "real regulations and real sanctions."