Chancellor Angela Merkel told she rejected any quick solution for Germany eurozone debt crisis - the world’s biggest economy on the world. Germany must take control of the eurozone crisis before is getting worse.
Chancellor Angela Merkel was speaking to parliament before a meeting of Group of twenty leaders in Los Cabos, Mexico in last week. The germany politician Angela Merkel has repeated her opposition to ‘ miracle solutions ‘ like joint eurozone links and a Europe-wide deposit ensure scheme for banks and financial institutions. Germany was central in rontal changes within the eurozone and backing the financial support given to debt-laden nations.
Eurozone debt crisis controlled by chancellor Angela Merkel
German politician has anticipated the eurozone debt crisis to be the main issue at the top during referring to the Group of 20 leaders meeting. The chancellor Angela Merkel said that Germany is an engine of worlds economy, but Germany’s powers are not unlimited. She has said also : ‘ Our country will be the centre of attention. It’s a fact, all eyes are on Germany because we are the biggest European economy and a major exporter. We must all resist the temptation to finance growth again through new debt. ‘
The real economy of the eurozone is faltering, while Germany is still developing. This means that the variances are widening. The political and social dynamics are also working toward disintegration. Public opinion, as expressed in last election effects, is increasingly opposed to severity, and this trend is likely to continue until the policy is reversed.
Eurozone in Germany
Angela Merkel said Germany need a more independent supervisory authority, because Berlin is right now too depended on national regulators and – in especial – under estimated Spain’s banking problems. ‘ The European Bank Authority (EBA) conducted stress tests on all European banks a year ago, and the national oversight bodies were very involved. We are now seeing the result. Spanish banks are in quite a different situation than the tests appeared to show. ‘ - Merkel has commented.