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Sarkozy, Merkel to meet on financial turmoil
France's Sarkozy to meet Germany's Merkel on Tuesday to respond to financial crisis
By The Associated Press

PARIS (AP) ' French President Nicolas Sarkozy says he will meet German Chancellor Angela Merkel on Tuesday for talks on solutions to Europe's financial difficulties.

Sarkozy's office said in a statement Thursday that the two will come up with "joint proposals" on the governance of the eurozone before the end of the summer.

Merkel's office confirmed the Aug. 16 meeting without providing further comment.

The announcement comes amid turmoil that is rattling world financial markets and anxieties about the health of leading global economies.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

PARIS (AP) ' France's market regulator is warning of sanctions against anyone who fuels or profits from rumors that have fed a two-day selloff wiping billions of the market value of the country's banks.

The regulator, the AMF, said in a statement Thursday that "the regular functioning of markets is altered by the spreading of unfounded rumors concerning financial assets listed in Paris."

It warned that spreading such baseless information, or profiting from it, can lead to sanctions.

Shares in French bank Societe Generale plunged Wednesday and fell again Thursday on rumors about its health and that of the larger French economy.

The renewed bout of market jitters Thursday comes despite assurances from policymakers and credit rating agencies, and highlights anxiety over Europe's debt crisis.

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