France and Germany completely agree on measures to be unveiled on Sunday by European Union finance ministers to help the crisis-hit euro zone, the French presidency said.

The Ecofin group of EU finance ministers was holding talks on Sunday to hammer out plans to restore confidence in the euro and prevent Greece's debt crisis from spreading to other euro zone countries.

French President Nicolas Sarkozy and German Chancellor Angela Merkel acknowledged their complete agreement on the measures to be announced tonight by Ecofin, in line with the conclusions drawn by the Eurogroup heads of state and governments last Friday, Sarkozy's office said in statement.

The European Commission on Sunday was presenting a proposal to the ministers for a stabilization fund to help euro zone countries with high debt levels.

Earlier in the day France's budget minister Francois Baroin called the proposal the beginning of a mini-European monetary fund.

Sarkozy's office said the French president spoke to U.S. President Barack Obama on Sunday and both agreed on the need for a strong response to market turbulence.

EU officials sought on Sunday to present a united front to counter the wolfpack of financial markets who recently pummeled euro zone countries with worrying public finances.

Baroin said there was no risk that France's credit rating would be downgraded as the country planned to follow an exemplary budget policy over the next two to three years.

(Reporting by Astrid Wendlandt and Emmanuel Jarry; Editing by Elizabeth Fullerton)

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