German Chancellor Angela Merkel on Wednesday brushed aside the latest push to pool European debt, arguing that it would be "economically wrong and counterproductive" to make such a move before governments have shown they can comply with budget rules.
AP - German Chancellor Angela Merkel is brushing aside pressure for a quick-fix solution to the euro crisis even as market tensions mount, arguing that spreading debt liability could ruin Europe's competitiveness and a massive European Central Bank bond-buying drive wouldn't resolve its problems.
George Soros, the billionaire speculator best known as “the man who broke the Bank of England” in 1992, has launched a stinging critique of Germany’s role in the euro crisis and suggested the single currency’s prospects would be improved if its most dominant member were to quit, reports The Guardian.
Several days ago, we posted a NSA cable leaked by Wikileaks, in which then French finance minister Moscovici (currently a European commissioner) was admitted that the French economic situation was "worse than anyone [could] imagine and drastic measures [would] have to be taken in the next two years." It has not improved since then.
BRUSSELS/BERLIN — Greek Prime Minister Alexis Tsipras called for a speeding up of work to conclude a reform-for-cash deal with eurozone creditors to keep his country afloat after talks with German Chancellor Angela Merkel on Thursday that both sides called constructive.
The leftist Greek premier met the conservative German leader before an emergency European Union summit on migration, a day before eurozone finance ministers meet in Riga to review progress — or the lack of it — in slow-moving negotiations between Athens and its international lenders.
German Chancellor Angela Merkel flatly rejected any quick-fix ideas to try to resolve the European financial crisis, telling lawmakers Friday that treaty changes and a stricter fiscal union were the only path forward — a process that could take years.» E-Mail This » Add to Del.icio.us