On the eve of a speech to German lawmakers tomorrow outlining her stance before a Dec. 9 European summit, Merkel is digging in on her plan to rework the European Union’s rules to lock in budget monitoring and enforcement. That risks a showdown with fellow EU leaders and extends her conflict with financial markets looking for immediate measures to end the contagion.
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A good roundup on Merkel’s reluctance to use the ECB by Bloomberg
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