Britain and France vowed to respond to financial market problems yesterday and called on banks to declare the full extent of the damage to their operations caused by the credit crunch.
After a second day of talks, British Prime Minister Gordon Brown called his relationship with President Nicolas Sarkozy an entente formidable and the two leaders agreed to try and enlarge the UN Security Council by getting permanent seats for Germany, Brazil, India, Japan and representation for Africa.
In sharp contrast to the mutual suspicion that so often dominated Anglo-French relations in the past, the body language between the two leaders could not have been warmer.
Compliments flowed in a press conference staged at the futuristic stadium of Premiership soccer club Arsenal, managed by Frenchman Arsene Wenger and awash with Francophone players.
An emotional Mr Sarkozy even hailed the "well deserved" reception given to his new wife, model-turned singer Carla Bruni whom he married last month after a whirlwind romance that dented his popularity in opinion polls. Leaders around the world are trying to calm fears of a global economic downturn stemming from a credit squeeze sparked by a US housing loan crisis. But rich nations have yet to agree a joint action plan.
Mr Sarkozy is seeking close ties with Britain to supplement the Franco-German alliance that has traditionally driven the 27-nation EU. Analysts say that may be because of his difficulties with German Chancellor Angela Merkel.
He called for a new "Franco-British brotherhood" in a speech to Parliament on Wednesday night.
Britain has often been criticised in Brussels for lingering on the fringes of the EU and not joining the bloc's common currency - with Mr Brown a regular target for sniping. But he stood firmly with Mr Sarkozy at a joint news conference.
"We also agreed that we need Britain and France at the heart of Europe, a global Europe, that is reforming, open, flexible, outward-looking," Mr Brown said.
The two also agreed action on issues including opening up trade between poor and rich countries, clamping down on illegal immigration, tackling climate change and promoting dialogue between China and Tibet to solve the current crisis there.
Mr Brown and Mr Sarkozy have struck up a good relationship since both came to power last year but the popularity of both has dropped recently.
The French President's two-day state visit to Britain is seen as an attempt both to rebuild his image at home and to forge tighter links with a fellow European heavyweight after years of often testy relations.