French President Nicholas Sarkozy and German Chancellor Angela Merkel will meet in Berlin early next week to discuss a stronger international fiscal rule as a solution to the euro zone debt crisis.

In the January ninth meeting, the two leaders will discuss the details of the new fiscal compact intended to regulate the fiscal management of member nations and prevent excessive borrowing and debt. All EU countries except Britain agreed to take part in the fiscal compact at the first session of the EU Summit in December last year.

Finance ministers from the 27 EU nations will meet on January 23rd before their leaders hold a summit on January 30th.