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Wednesday, October 26, 2011

Angela Merkel Sees Opportunity in Greek Crisis

Via Reuters:
Touching on a theme that she has repeated throughout the crisis, Ms. Merkel said Europe mustn't waste the opportunity it has now to correct mistakes made at the creation of the euro. Germany is pushing for a number of changes to European treaties and the currency union to promote integration of euro-zone fiscal policies and get other euro-zone members to commit to a German-style debt brake that would force national governments to balance their budgets. "We have to seize this opportunity now or never to correct the architectural flaws made when economic and monetary union was created," Ms. Merkel told parliament. "And if we correct these mistakes now, then we will have grasped the opportunity in this crisis."

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