BERLIN (MNI) – German Chancellor Angela Merkel on Tuesday said
Germany opposes a prolongation of the rescue fund for Greece and the
European Financial Stability Facility (EFSF) beyond 2013.
“I want to make this very clear here that there won’t be a
prolongation of these funds,” Merkel said in a speech at an industry
conference in Berlin.
Rather, there is a need to stiffen the rules of the EU Stability
and Growth Pact, the chancellor said.
“We need a change of treaties in Europe which will make clear that
countries which breach the Stability and Growth Pact will be subject to
different procedures” than now, Merkel stressed. “Germany will not agree
to a simple prolongation” of the rescue funds, she said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$G$$$,M$X$$$,MGX$$$,MFX$$$]
