Merkel Says China, Russia Backed Debt-Cut Course to Help Euro
Posted by smeddum on July 22, 2010
July 21 (Bloomberg) — Chancellor Angela Merkel said China and Russia backed measures taken by euro region governments to cope with the sovereign debt crisis in the region.
“I think that we did this very well by far and when I saw in China recently that the prime minister made it clear again that they have confidence in the euro, and how Russia said that, then I think it was right not to help superficially and hastily, but to go to the true roots of our weakness,” Merkel told reporters in Berlin.
“If we can manage now to change the treaties” that limit government deficits and debt in the European Union, “Europe will be in pretty good shape after this crisis.”
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