Oct. 28 (Bloomberg) -- German Chancellor Angela Merkel said that the debt crisis won’t be over “in a year.”
The euro area faces “a crisis of confidence” that risks turning away investors as countries such as China and India strengthen, Merkel said in a speech today to members of her Christian Democratic Union party in the Bavarian town of Deggendorf. “We’re not going to get rid of that in a day, with one big bang, or in a year,” she said.
Europe and the U.S. need to lower their debt levels to tackle the root of the problem, she said.
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