ANGELA MERKEL SAYS that German money can not solve Europe’s problems.
The Guardian reports today that in a speech to the German parliament in Berlin yesterday, the Chancellor told the rest of Europe to get real about the crisis.
“Germany’s strength is not unlimited. The way out of the crisis in the eurozone can only be successful if all countries are capable of recognising the reality and realistically assessing their strengths.”
She expressed fury at suggestions that Germany pick up the bill for other the trillions of euro in debt run up by France, Italy and Spain.
Instead, the London Independent reports that she said that:
It is our duty to break the vicious circle of new debt and rules that are breached, again and again.
Britain and the US, as well as France’s new president Francois Hollande, are arguing that Europe’s debt burden be shared through the issuance of Eurobonds.
This would involve a huge money printing operation by the European Central Bank, something which throws up painful memories for many Germans, who know all too well the possible consequences of such a move. Prices rose out of control, with the price of bread rising from 163marks in 1922 to 200billion marks by 1923.
Enda Kenny refuses to say what he and Merkel spoke about >
To embed this post, copy the code below on your site
have your say