Bloomberg News

Merkel Says Euro-Area Debt Crisis Won’t Be Solved ’Overnight’

February 07, 2012

Feb. 7 (Bloomberg) -- German Chancellor Angela Merkel said that the euro-area debt crisis won’t be resolved “overnight” since it has to be tackled at its roots.

“We can only overcome this crisis if we dig down to the reasons for the crisis,” Merkel said in a speech in Berlin today. “We can’t overcome this crisis overnight because we’re dealing with structural causes,” including excessive debt and a lack of competitiveness in some euro countries.

All 17 euro nations must contribute to the crisis fight and the region has made a start in that effort, Merkel said. “I know this is not the easy way, but as far as I am concerned, it’s the only way that promises success,” 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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