Renault, Cosworth and Ferrari agree to engine freeze?

According to a report in Italian newspaper Gazzetta dello Sport the FIA held a meeting Friday with Ferrari, Cosworth and Renault to formulate future engine regulations. The International Automobile Federation confirmed on Saturday that FIA president Max Mosley met key personnel at Ferrari's Maranello factory.

"Max Mosley, Charlie Whiting and FIA consultant Peter Wright attended the meeting.

The Italian newspaper headline says – 'The Peace of Maranello', and reported an agreement was reached to freeze engine development for a five year period from 2008 to 2012 with the aim of reducing costs dramatically.