French President Nicolas Sarkozy and German Chancellor Angela Merkel are meeting in Paris on Monday to craft a cohesive plan that will tackle Europe's debt crisis.
The meeting comes just days before they join other European leaders for a critical financial summit on Dec. 9.
Observers expect to see a proposal for tighter integration of the 17 countries that use the euro and punishment for countries that fail to follow tough budgetary rules.
Meanwhile, Italy's Prime Minister Mario Monti is presenting some growth-boosting measures to parliament.
His government has agreed to tax property and luxury goods, increase the retirement age, trim the cost of the country's political class and give incentives to companies that hire women and young workers.