
Angela Merkel, the German Chancellor, on Wednesday told the lower house of the German parliament that it could take Europe years to solve its debt crisis, as growing scepticism about the outcome of last week's EU summit weighed on financial markets. In this speech to the German Bundestag, made available to media by the media service of the German parliament, Merkel defended the move for tighter budget policing in the 27-nation European Union and said that Europe and the eurozone would emerge stronger from the crisis. It was a "process that won't just last weeks, but months and years," the chancellor said. There will be "setbacks but if we don't let ourselves be discouraged ... Europe won't just overcome the crisis, but will emerge from it strengthened," Merkel said. European Union leaders from 26 of the 27 member states agreed at a high-stakes Brussels summit last week to back a Franco-German drive for tighter budget policing in a bid to save the eurozone.
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Bundestag Press
EUXTV