German Chancellor Angela Merkel renewed her attack on markets for their role in stoking Europe’s financial crisis, saying the challenge for policy makers is to woo voters to support cutting debt levels to escape the sights of investors. Merkel made her comments at an event in the Bavarian town of Abensberg on Monday after her finance minister, Wolfgang Schaeuble, warned against heaping “false expectations” on the European Central Bank to end the debt crisis now almost three years old. Merkel, speaking at an event organised by the Bavarian Christian Social Union party, said that in the last five years, markets “haven’t served the people,” allowing a few to get rich at the expense of the many. Markets can’t be allowed to destroy the fruits of people’s labor and governments can’t be put at their mercy through excess debt, she said. “The real question about our democracy is: Can we in Germany and in Europe win elections when we jointly stand up for solid finances, when we don’t always spend more than we take in?” Merkel said in a beer tent packed with local party officials dressed in traditional Bavarian lederhosen and dirndls. Merkel’s comments are the most explicit yet on her campaign themes for federal elections in the fall of 2013, to be held at the same time as a Bavarian regional vote that will determine the CSU’s fate. Sharing the podium with the party’s general secretary, Alexander Dobrindt, Merkel’s tone contrasted with his warning last month that Greece would no longer be in the euro region in 2013. The chancellor reiterated that Greece must fulfil the terms of its bailouts in return for “solidarity,” while those programmes undertaken in Spain and Portugal “require an effort.” (gulf today)
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor