Merkel, Sarkozy say time running short for Greece (by MarketWatch)

FRANKFURT (MarketWatch) -- French President Nicolas Sarkozy and German Chancellor Angela Merkel on Monday said time is running out for Greece to reach an agreement with international creditors on a new rescue plan. "We want Greece to stay in the euro ... this is the opinion of both of us," Merkel said in a joint news conference after a joint French-German cabinet meeting in Paris, according to Reuters. "But I also say there can be no new Greece program if agreement is not reached with the troika," she said, referring to the European Union, International Monetary Fund and European Central Bank. Sarkozy said it was crucial for Greece to meet its commitments. "Time is running out, it needs to be concluded, it needs to be signed," he said.