Dec. 9 (Bloomberg) -- German Chancellor Angela Merkel said the European Union is creating a “new fiscal union” for euro stability.

“We will create a new fiscal union for the euro that is a stability union by creating a debt brake for all euro countries and all countries that want to join up,” she told reporters in Brussels today.

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

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net