14 June 2012 11:44 CET | EuroNews
<iframe width="640" height="360" src="http://www.youtube.com/embed/63vtZJGzBPA" frameborder="0" allowfullscreen></iframe>
Germany will do all it can to fight the eurozone debt crisis but Berlin cannot
solve the bloc’s problem’s alone, Chancellor Angela Merkel said on Thursday.
She told the lower house of parliament that Germany is “the engine of growth and
anchor of stability in Europe” but that its “strength is not unlimited.”
Merkel also said that the best solution to balancing government books across the
EU is a mixed policy favouring both growth and austerity, rather than a simple
choice between one or the other.
US Treasury Secretary Timothy Geithner has also backed Germany’s call for EU
wide structural reforms.
Speaking in Washington yesterday, he highlighted the bloc’s main priorities ahead
of next week’s G20 summit.
EU leaders are under pressure to unveil some of their plans at the G20 summit in
Mexico as the continent’s economic woes continue to drag on growth around the
world.
The two-day meeting starts on Monday – a day after the Greek elections that
could determine whether the country remains inside the 17 nation currency union.
<iframe width="640" height="360" src="http://www.youtube.com/embed/63vtZJGzBPA" frameborder="0" allowfullscreen></iframe>
Germany will do all it can to fight the eurozone debt crisis but Berlin cannot
solve the bloc’s problem’s alone, Chancellor Angela Merkel said on Thursday.
She told the lower house of parliament that Germany is “the engine of growth and
anchor of stability in Europe” but that its “strength is not unlimited.”
Merkel also said that the best solution to balancing government books across the
EU is a mixed policy favouring both growth and austerity, rather than a simple
choice between one or the other.
US Treasury Secretary Timothy Geithner has also backed Germany’s call for EU
wide structural reforms.
Speaking in Washington yesterday, he highlighted the bloc’s main priorities ahead
of next week’s G20 summit.
EU leaders are under pressure to unveil some of their plans at the G20 summit in
Mexico as the continent’s economic woes continue to drag on growth around the
world.
The two-day meeting starts on Monday – a day after the Greek elections that
could determine whether the country remains inside the 17 nation currency union.
