The President of France, Nicolas Sarkozy, made a statement on Friday that a treaty of the European Union does not need revision for ensuring a permanent resolution mechanism of crises following the expiration of the temporary mechanism in 2013.

According to Sarkozy's statement, to make the mechanism system permanent, a slight revision of the treaty is required to make Germany's task easier. He also said that the European council has unanimously approved of the treaty revision to achieve the target.

France and Germany have been demanding the revision of the treaty for quite some time to make a permanent mechanism to handle future problems that would include private sector taking part.

Sarkozy added that not creating a permanent system would amount to Europe not knowing what to do from 2013 onwards.

No other details were given by the President regarding the functioning of the permanent mechanism, but said the European Council president, Herman Van Rompuy, will be working on this to issue a final decision in December.

Sarkozy concluded by saying that he was counting on the judicial creativity of Europe, whose existence is very important as there are 27 countries in the continent having varying cultures, histories and interests.