Francois Hollande to fly to Berlin to meet Angela Merkel within hours of inauguration Both the German and French leaders have made conciliatory noises since Hollande's election on Sunday, but the meeting is expected to be tense, with Berlin already insisting the pact can not be re-opened. Earlier on Thursday Chancellor Merkel warned there is no "magic bullet" to resolve the debt crisis and that deficit-fuelled growth would only catapult the eurozone back into trouble. In a speech to the German parliament, Mrs Merkel said: "Growth on credit would throw us back to the start of the crisis and therefore we will not do that." Reducing debts and bolstering growth were the "two pillars" of the crisis-fighting strategy, she reiterated, as a debate rages in Europe over whether to focus more on the economy or slashing deficits. French president-elect Francois Hollande has said he wants to add measures to foster growth to a German-inspired fiscal pact designed to promote more budgetary discipline in the embattled European Union. EU leaders will gather on May 23 in Brussels to thrash out a way forward and Mrs Merkel and Mr Hollande will hold talks in Berlin next week in a bid to overcome their differences on the European economy. "The European sovereign debt crisis will not be beaten overnight ... there is no magic bullet," Mrs Merkel insisted.