The leaders of the eurozone's four top economies have announced €130 billion in new measures to support growth after their meeting in Rome.

French President Francois Hollande said the leaders had agreed to mobilise "1% of European GDP, that is €120bn to €130bn euros, to support growth."

Germany's Angela Merkel hailed the move as "an important signal".

"The lesson of this crisis is more Europe, not less Europe," Ms Merkel said after the talks.

The talks took place ahead of a crucial full European Union summit in Brussels next week aimed at resolving the debt crisis.

Italian Prime Minister Mario Monti said the four leaders had agreed that kickstarting growth in the eurozone was key to restoring confidence.

"The first objective we agree on is to relaunch growth, investments and to create jobs," Mr Monti said.

"We need to work closer together politically, especially in the euro zone. Whoever has a common currency must also have coherent policies. That is also a lesson from the last two years" Mr Monti said.

"The euro is here to stay and we all mean it. The great project which has been successful until now, the euro, is irreversible," he added.

In a sign of continued discord, however, Mr Hollande said there could be "no transfer of sovereignty without greater solidarity" within the eurozone.

A transfer of sovereignty would be required for deeper fiscal integration in the eurozone, which Ms Merkel is pushing for, but France wants financial burden sharing to be a higher priority.

With the eurozone's two-year-old financial crisis threatening to engulf Spain and Italy and weighing down the global economy, Europe's leaders are under intense pressure to come up with workable ideas ahead of the summit on 28 and 29 June.