Published by Mark Smith-HalvorsenBusiness leaders in Germany have urged the adoption of tough rules for eurozone members.In an open letter to eurozone leaders, the country's business leaders publicly backed German chancellor Angela Merkel's proposals for stronger fiscal discipline.The groups warned against collectivising debt, suggesting that such a move would not bring benefits for the single currency zone.Collectivising debt would "overburden strong states and weaken Europe," Reuters reports the business leaders said.The letter comes ahead of summits of European leaders later this month designed to come up with ways of overcoming the debt crisis.Ms Merkel has suggested the creation of a competitiveness pact as part of the wider effort to return Europe to strength following the economic crisis.The groups also showed their support for the development of national debt brakes and automatic sanctions for countries that break agreements on stability and growth.Germany already has France's backing for the development of the so-called competitiveness pact.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site