Merkel Says No One Crisis Summit Will Achieve Final Goal

Oct. 27 (Bloomberg) -- German Chancellor Angela Merkel said that no one summit will resolve the debt crisis, which can only be tackled at its roots by debt reduction and reforms.

“I believe that yesterday we assembled a good joint package to take the next steps,” Merkel told reporters in Berlin today, when asked about the positive reaction in financial markets. “We still have many steps left to take, which you see now in the structural reforms that have been announced by countries such as Italy and Spain and Greece. So you can’t use a single summit alone to reach the goal, rather we have to work together further on structural matters.”

To contact the reporter on this story: Patrick Donahue in Berlin at pdonahue1@bloomberg.net

To contact the editor responsible for this story: Alan Crawford at acrawford6@bloomberg.net