Published by Jamie JemmesonGerman chancellor Angela Merkel has set out a "competitiveness pact" designed to remove policy differences between eurozone member countries that have weakened the union.The pact, announced at a summit of European leaders in Brussels, met with some resistance from certain eurozone members.At a joint conference with French president Nicolas Sarkozy, Ms Merkel said: "What we want to establish is a pact for competitiveness and in so doing we want to make it very clear that we intend to grow together more closely on a political level."She added that both Germany and France are committed to ensuring 2011 is a year of "new confidence for the euro".This latest move highlights a central problem with the euro, the BBC's Europe correspondent Chris Morris says. It shows that countries were allowed to pursue widely varying economic policies while sharing the same currency. A pact along the lines of that outlined by Ms Merkel would begin to remove those differences, the expert adds.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site