(6 Oct 2008)
1. German Chancellor Angela Merkel and Italian Prime Minister Silvio Berlusconi arriving for news conference
2. Wide of media
3. SOUNDBITE: (German) Angela Merkel, German Chancellor:
"We are both of opinion that the Europeans have to come up with a coherent approach because we all belong to the same monetary area. That means close exchange, and close cooperation, and every country has to of course live up to its responsibility, as we did in Germany in the case of HRE (Hypo Real Estate), because we can not allow the system risks which damage not only us but also other countries of the Euro area"
4. Close-up of photographer
5. SOUNDBITE: (Italian) Silvio Berlusconi, Italian Prime Minister:
"We've seen each other on Saturday in Paris and discussed the problem further, and I have suggested and I still remain convinced that it would be the best (to create) an umbrella, a common fund, of the 27 European countries. That is of course difficult, but I think that this could be a common method."
6. Close-up of cameraman
7. Merkel and Berlusconi shaking hands and leaving, pull out as they leave
STORYLINE:
German Chancellor Merkel said on Monday that Europeans must be "coherent" in tackling the financial crisis and every country must live up to its own responsibilities.
Merkel said she and visiting Italian Premier Silvio Berlusconi agree that the Europeans must show coherent action because they belong to a common currency zone.
She said that meant ensuring close consultation and added that every country must do justice to its responsibility in this context, as Germany has in rescuing distressed lender Hypo Real Estate AG.
Merkel met Berlusconi two days after they joined the French and British leaders in vowing to do all they can to prevent Wall Street's turmoil from destabilising their banking systems, but shied away from advocating a massive European-wide bailout of the kind passed in the US, an idea Germany has opposed.
On Sunday, the German government said it would guarantee all private bank accounts, raising questions over how far Europeans were coordinating their efforts.
Merkel portrayed that as "a part of our common action."
She pointed to the fact that Italian officials have said they would adopt any necessary measure to protect the banking system and Italians' savings accounts.

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