Bloomberg News

Merkel Says Europe’s Debt Crisis Won’t Be Over ’In a Year’

October 28, 2011

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.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

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


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