France and Germany said on Wednesday they want to set up political sanctions, notably suspend voting rights, of EU member states which run up excessive deficits and to impose financial sanctions on them. Speaking at a joint press conference in Paris, French Finance Minister Christine Lagarde and her German counterpart Wolfgang Schaeuble, German Finance Minister said their joint proposals would most likely require a revision of the European Union treaty. The project is now to be examined by EU president Herman Van Rompuy.Duration: 01:28
