FRANKFURT (MNI) – German Chancellor Angela Merkel invoked another
passionate defense of the European currency in a speech at the World
Economic Forum in Davos on Friday.
“The euro is our currency. It is much more than just a currency, it
is the embodiment of the Europe of today,” she told gathered
delegates. “I have quite often said this: should the euro fail, Europe
will fail.”
“This crisis, and I am saying this on behalf of the whole EU, has
shown one thing very clearly and maybe it has also changed the way we
think: indebtedness is the biggest danger and the biggest risk for
prosperity on this continent,” she warned.
“This is why we have to work resolutely against debts, and work
resolutely for enhanced competitiveness,” she urged.
Turning to her own domestic economy, Merkel observed that “consumer
confidence has returned to Germany.”
“That to me is an example that sound fiscal policy and growth don’t
need to be a contradiction in terms,” she argued.
“Sound fiscal policy allows you to stimulate growth. Budgetary
consolidation remains of prime importance to us. It has not done us any
damage, quite the contrary,” she reasoned.
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