–Adds Merkel’s Re-election As CDU Head To Story Sent 12:14 GMT
BERLIN (MNI) – German Chancellor Angela Merkel warned Tuesday that
the worst of the Eurozone debt crisis might not yet be over.
“Nobody can credibly forecast when the European sovereign debt
crisis will be fully overcome,” Merkel said in a speech at a party
convention of her center-right Christian Democratic Union in Hanover.
“If I wanted to make it easy for me, I could say the worst is
over,” the chancellor reasoned. “Yet, I’m saying here explicitly that we
should remain cautious.”
Merkel once again stressed that the crisis won’t be solved
overnight.
“One cannot say it often enough that the European sovereign debt
crisis won’t be solved with one magic bullet – sometimes it’s eurobonds,
sometimes it’s debt haircuts,” she insisted. “This crisis can only be
solved through a long and arduous process.”
The chancellor noted that “the outlook for economic developments
next year will not be as good as this year and this is even more true
for our European neighbors.”
Germany can only prosper when Europe prospers, Merkel said. “That
is why I’m using all my powers to make sure that Europe masters this
challenge.”
Merkel was re-elected as CDU party head at the convention with
97.94% of the vote, giving her a strong backing for next year’s national
elections.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
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