Germany's Merkel Sees Euro In Crisis Due To Greece - Report

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  • TrueMacedonian
    Senior Member
    • Jan 2009
    • 3810

    Germany's Merkel Sees Euro In Crisis Due To Greece - Report



    Germany's Merkel Sees Euro In Crisis Due To Greece - Report

    FEBRUARY 24, 2010, 2:07 P.M. ET

    FRANKFURT (Dow Jones)--German Chancellor Angela Merkel says the euro is going through its first crisis since its creation but will survive, according to an advance copy of an interview with Frankfurter Allgemeine Zeitung to be published Wednesday.

    According to Merkel, the financial crisis has led to dangerous speculation against countries that are confronting their own problems.

    Merkel tells the newspaper that confidence in the euro can only be restored if Greece and other highly indebted countries attack the problem at its roots. She adds that the euro's credibility in financial markets depends on Greece achieving its budget consolidation targets of 4% of gross domestic product.

    While Merkel says that the solution isn't to create a coordinated economic policy for the euro zone, she calls for more transparency and ramifications when deciding which countries can join the euro zone in the future.

    Newspaper Web site: http://www.faz.net

    -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
    Slayer Of The Modern "greek" Myth!!!
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