superodalisque
Well-Known Member
In the Wall Street Journal:
Merkel: Euro Is in Serious Trouble
By BERND RADOWITZ
BERLIN—German Chancellor Angela Merkel Tuesday underlined the grave situation facing the euro in the wake of the financial woes confronting Ireland.
"We're in an extraordinarily serious situation, as far as the situation of the euro is concerned," Ms. Merkel said during a speech at the German employers' association's annual conference. She said the Irish crisis was "very worrying" but different from that faced by Greece earlier this year...
"If the euro is to be a stable currency, the Stability and Growth Pact needs to be kept," Ms. Merkel said. She added that Germany's strict consolidation measures have prompted several other European countries to also develop policies to bring down their deficits and start on structural economic reforms.
Markets don't only look at budget deficits, but also at what strength a country has to lower those deficits, Ms. Merkel added.
She also said that she will insist on involving private lenders—those "who earn quite a lot of money with certain government bonds"—in a future permanent crisis-resolving mechanism for the area.
Write to Bernd Radowitz at [email protected]
watching the situation will be interesting and/or scary since the europeans seem to be taking an entirely different approach for the most part than our country has. its a bit frightening as well since no one seems to be really quite sure how it will effect the economy here. will it lead to a surge of investment in america where the banks appear to be stabilized or will europeans need their funds to balance their own budgets? the europeans are already asking for help from us in order to avoid defaulting on some loans. very little has been said in the US about this important event thats been coming on for quite some time and is endemic in the problems in Greece, Spain and now Ireland.
Merkel: Euro Is in Serious Trouble
By BERND RADOWITZ
BERLIN—German Chancellor Angela Merkel Tuesday underlined the grave situation facing the euro in the wake of the financial woes confronting Ireland.
"We're in an extraordinarily serious situation, as far as the situation of the euro is concerned," Ms. Merkel said during a speech at the German employers' association's annual conference. She said the Irish crisis was "very worrying" but different from that faced by Greece earlier this year...
"If the euro is to be a stable currency, the Stability and Growth Pact needs to be kept," Ms. Merkel said. She added that Germany's strict consolidation measures have prompted several other European countries to also develop policies to bring down their deficits and start on structural economic reforms.
Markets don't only look at budget deficits, but also at what strength a country has to lower those deficits, Ms. Merkel added.
She also said that she will insist on involving private lenders—those "who earn quite a lot of money with certain government bonds"—in a future permanent crisis-resolving mechanism for the area.
Write to Bernd Radowitz at [email protected]
watching the situation will be interesting and/or scary since the europeans seem to be taking an entirely different approach for the most part than our country has. its a bit frightening as well since no one seems to be really quite sure how it will effect the economy here. will it lead to a surge of investment in america where the banks appear to be stabilized or will europeans need their funds to balance their own budgets? the europeans are already asking for help from us in order to avoid defaulting on some loans. very little has been said in the US about this important event thats been coming on for quite some time and is endemic in the problems in Greece, Spain and now Ireland.
