Sunday, 23 October 2011
Merkel Takes Aim at Italy With Demand That Euro Members Live Within Means
Even as President Barack Obama calls on European leaders to lay aside their differences, Merkel took the U.S. government to task for failing to manage its own debt.
“It doesn’t look much better in America, even if the markets aren’t quite concentrating on that,” Merkel said today.
Merkel also reiterated her objection to jointly issued euro bonds, saying that while such an arrangement could act initially as a salve to markets, common borrowing would lead to “solidarity in mediocrity.”
“This will be the message for the coming years,” Merkel said. “It will be very, very hard -- our task is no longer to live beyond our means. That goes for Germany and for every other European country.”
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