Berlin Remains Stoic in the Face of Growing Crisis[Spiegel Online]
Not even a week after the most recent European Union summit aimed at ending the debt crisis, panic is mounting once again. But not in Berlin. Chancellor Merkel calmly told parliament on Wednesday that a solution would take years and German central bank head Jens Weidmann compared demands for ECB intervention to an alcoholic grabbing for the bottle.
One wishes that financial investors were made of the same stuff as German Chancellor Angela Merkel. With virtually the entire world convinced that the euro zone has not done enough to save the common currency, Merkel remains stoic in the face of demands to erect a gigantic firewall.
On Thursday, she ruled out increasing the size of the permanent euro backstop fund, the European Stability Mechanism, beyond the currently planned €500 billion ($648.5 billion).
Lire : spiegel.de
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