Merkel, Sarkozy propose eurozone government

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In afternoon trading in New York Tuesday, the euro slid to $1.4385 as investors digested the proposal for greater coordination. It had spiked to $1.4472 immediately after French President Nicolas Sarkozy and German Chancellor Angela Merkel announced their plan.

Late Monday, it was worth $1.4451.

Associated Press writer Sarah DiLorenzo in Paris, David McHugh in Frankfurt and Tali Arbel in New York contributed to this report.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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