Merkel Advises Continued Patience for Reforms

Contrary to some of the statements that have come out of the ECB. Merkel is not sure if the worst is over, advices caution.

She drew a line linking German prosperity to a prosperous European Union.

“For our prosperity and our solidarity we need to strike the right balance,” Merkel said. “The European sovereign debt crisis shows how important this balance is.

“The reforms that we’ve introduced are beginning to have an impact,” she said. “Nevertheless we need to have further continued patience. The crisis is far from over.”

Merkel indirectly contradicted Finance Minister Wolfgang Schaeuble with those comments. In an interview on Friday in Bild newspaper Schaeuble said the worst of the crisis was over.

via CNBC

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