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Leaders meet ahead of euro summit

The Local · 20 Oct 2011, 07:41

Published: 20 Oct 2011 07:41 GMT+02:00

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Merkel later said leaders must think outside the box in order to save Europe.

“We must take this crisis as an opportunity and also to be ready to take unconventional actions,” Merkel said at a gala on Wednesday evening for outgoing European Central Bank president Jean-Claude Trichet.

Merkel emphasised that changes to the European Union’s fundamental treaties should not be out of the question.

“Treaty changes are not a taboo for me,” she said at the gala. "If the euro fails, Europe fails, but we will not allow that."

The Brussels summit of top EU leaders from Friday to Sunday is another attempt by leaders to find solutions to the continent’s growing financial problems that many observers say is dragging the world toward a recession.

On Wednesday it emerged that Germany and France wanted to expand the eurozone’s safety net further than ever before, to the fury of many opposition politicians.

Story continues below…

DAPD/DPA/The Local/mdm

The Local (news@thelocal.de)

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Your comments about this article

09:53 October 20, 2011 by axlathi
Germans would do well to remember the generosity with which the United States and its tax payers, through the Marshall Plan, bailed them and the rest of Europe out when Germany lay in ruins after WWII - ruins caused not by profligate spending and borrowing, but aggressive war. America had the money and a strong and democratic Germany and Europe were in its interests. Isn't a strong and democratic Europe in Germany's interests? If Germany fails to lead Europe out of this crisis, it is missing out on a historic opportunity to save Europe and arguably the Western world from economic collapse, while at the same time forcing countries like Greece to enact fundamental reform, which would be sure to pay dividends in Germany's long-term interests, both economic and political.
18:09 October 20, 2011 by William Thirteen

nicely said. unfortunately it seems that Merkel is more concerned with following the polls rathn than leading the country.
06:21 October 27, 2011 by Sastry.M
Also the Germans may keep their indebtedness to ancient Greek Wisdom imparted to the West, and feed bail out money to compensate for the vagaries of speculative excesses of present day ignorant Greeks and their appreciative bankers.
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