Wednesday, June 29, 2011

Merkel: Europe Will Beat Debt Crisis

Wall Street Journal
June 29, 2011

German Chancellor Angela Merkel said Wednesday that euro-zone leaders would be able to overcome the bloc's ongoing debt crisis, even in the face of difficult decisions that pit national interests against those of the broader currency zone.

"I want to say that we'll get through this crisis," Ms. Merkel said at a conference sponsored by her party, the Christian Democratic Union.

Speaking in Berlin, Ms. Merkel also said that Greece's approval of new austerity measures is an important step for the country and for the stability of the euro as a whole, German Chancellor Angela Merkel said Wednesday in Berlin. The German leader that Greece's vote would also help the country's economy grow and become more sustainable over time. Greece has no alternative other than to become more competitive, Ms. Merkel said in a televised statement. The Greek parliament earlier Wednesday signed off on a new round of austerity measures demanded by euro-zone leaders and the International Monetary Fund in exchange for more aid.


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