As Greece learned on Monday that its massive budget deficit was even bigger than expected in 2009, German Chancellor Angela Merkel has renewed calls for a pan-European crisis mechanism that would help prevent future debt crises and protect the euro single currency."Everything is at stake - if the euro fails, Europe will fail," she told delegates at the Christian Democrats' party convention, where she was reelected as head of her party. "We need a new culture of stability in Europe," she added.
She even went so far as to criticize her predecessor, Social Democrat Gerhard Schroeder, for giving his consent for Greece to join the eurozone, calling it "irresponsible".
Note EU-Digest: Mrs. Merkel is totally right: Europe needs a new culture of stability.
For more: Greek PM: German proposals put squeeze on debt-laden countries | Europe | Deutsche Welle | 15.11.2010
No comments:
Post a Comment