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Merkel reins in EU weekend summit hopes

The Local · 23 Oct 2011, 11:53

Published: 23 Oct 2011 11:53 GMT+02:00

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"We are preparing the decisions for Wednesday," Merkel said, referring to another round of EU talks announced just days ago.

"The focus is on technical discussions that are very complicated," she added. "To keep expectations in line: Decisions aren't expected today."

The German chancellor did, however, express confidence that European leaders would be able to reach a consensus by the end of next week's summit.

"I think that finance ministers have made progress and that we will be able to reach our ambitious goals by Wednesday," she said. Merkel also said she believed eurozone states would "supply the necessary funding for Greece."

The latest report by the troika – the European Central Bank, International Monetary Fund and European Commission, which are overseeing the bailout of debt-ridden Greece – said Athens could face shortfalls of €252 billion through 2020.

Germany's chancellor also echoed calls made by Foreign Minister Guido Westerwelle that the EU court should play a role in making sure that eurozone nations stick to deficit guidelines.

"It has to be possible to bring a country before the European Court of Justice if it does not meet the requirements of the Stability and Growth Pact," she said, in comments made Saturday in Braunschweig.

Story continues below…

Merkel and her French counterpart, President Nicolas Sarkozy, met ahead of Sunday's summit in Brussels, amid reports of ongoing disagreement between Berlin and Paris over how to tackle the eurozone's spiraling debt crisis.


The Local (news@thelocal.de)

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Your comments about this article

12:44 October 23, 2011 by michelbisson
Strange that there are always hidden costs that show-up in the last minute when it looks too late to change position. From one news media everything is going quite well and almost as planned, while another news media depicts the situation as a real mess and many strong disagreements between France and Germany.

At the end of it for the politicians it's only a matter of the re-election of a party which is at stake while for the population in general it has almost become a survival issue.

It just has to become bad enough for all of us to really go to the streets and demand an end to the legal mafia.
13:54 October 23, 2011 by koll
If Europe threaten Greece with recognizing North Cyprus, Greece will sell her state assets and will pay her debts.
16:05 October 23, 2011 by derExDeutsche
'From one news media everything is going quite well and almost as planned, while another news media depicts the situation as a real mess and many strong disagreements between France and Germany.'

Yes, it is each media sources bias showing, usually. The media sources claiming that every thing is great, are Pro-Euro based Europe. And those Anti-Euro for Europe say that there are many disagreements.

Given the facts, I would say the latter is probably closer to the truth.

Looks like Angela is looking for ways to raise more capital. or just write off more debt. preferably write off debt, which Wasn't Voted on. wouldn't want to go against the will of the people. ha
19:00 October 23, 2011 by fokion
If German want to be so correct about dept , must pay back the money from the forced loan that German government took from the BANK OF GREECE during the occupation , 1943. We are not talking about war compensations but a clear legal loan ! The total amount with the interests is , at least , 250 billions euro.
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