German and Italian Leaders at Odds Over Euro Plans |
| New York Times - Aug 29, 2012 |
Angela Merkel, the German chancellor, on Wednesday praised the progress that Italy’s prime minister, Mario Monti, has made in revamping his country’s economy. But she also indicated there were limits to how much financial risk Germany was willing to bear in helping out its euro zone allies.
After a two-hour meeting with Mr. Monti in Berlin, Ms. Merkel said she was impressed by what she called the Italian government’s “wide reaching” efforts to streamline the economy and cut government spending.
“I am personally convinced that these reform efforts will bear fruit, that they will improve Europe’s overall competitiveness,” she said.
Ms. Merkel has sought in recent weeks to shift the crisis narrative away from the financial burden being borne by German taxpayers, who remain leery of putting up more of their money for the sake of the euro. Instead, as the crisis begins to drag on German growth, Ms. Merkel has been emphasizing the sacrifices that troubled countries like Italy and Greece have made, and emphasizing how Germany’s economic interests are intertwined with theirs.
Read Full Article from New York Times
- Posted: 2012-08-29 15:36:16
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