France and Germany yesterday said they wanted full implementation of measures agreed at a eurozone summit in July in order to safeguard the single currency as markets brace for fresh turmoil this week.

“President (Nicolas) Sarkozy and Chancellor (Angela) Merkel reiterate their commitment to fully implement the decisions taken by the heads of state and government of the euro area and the EU institutions on July 21,” a joint statement said.

“In particular, they stress the importance that parliamentary approval will be obtained swiftly by the end of September in their two countries,” it added.

The French and German leaders pointedly welcomed yesterday the “recent measures announced by Italy and Spain with regard to faster fiscal consolidation and improved competitiveness.

On Friday, EU economic affairs commissioner Olli Rehn said that officials at the EU Commission, the European Central Bank and the European Financial Stability Facility were “working night and day to put flesh on the bones” of an agreement struck at the July 21 summit.

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