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ECB’s Mersch Says It Will Take Time for Europe to Solve Crisis

October 26, 2011

Oct. 26 (Bloomberg) -- European Central Bank Governing Council member Yves Mersch said Europe will take time to solve the debt crisis even if the pace of decision-making doesn’t please financial markets.

“Unfortunately, the markets don’t have to do with the functioning of democracies,” which need time to carry out far- reaching decisions, Mersch said at a conference near Florence, Italy, today.

“It’s not just a question of money, it’s a question of change that has to be explained” to more than 300 million people in the European Union, he said.

To contact the editor responsible for this story: Jeffrey Donovan at

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