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Reply #23: europe: Germany's Merkel fights for euro [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 07:09 AM
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23. europe: Germany's Merkel fights for euro
http://uk.reuters.com/article/2011/12/02/uk-eurozone-id...

(Reuters) - German Chancellor Angela Merkel called on Friday for rapid EU treaty change to remedy the root causes of the euro zone's debt crisis but warned that Europeans faced a long, hard "marathon" to restore lost credibility.

Outlining a long-term approach to tighter fiscal integration in the single currency area, with tougher budget discipline, she dismissed quick fixes such as massive Fed-style money printing by the European Central Bank or issuing joint euro zone bonds.

"Resolving the sovereign debt crisis is a process, and this process will take years," Merkel told parliament, vowing to defend the euro, which she said was stronger than Germany's former deutschemark.

"The European Central Bank has a different task from that of the U.S. Fed or the Bank of England," the German leader said.
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