BERLIN (AP) — German Chancellor Angela Merkel is insisting that structural reforms can help Greece return to economic growth following a painful austerity drive.
Merkel acknowledged in an interview with Deutschlandfunk radio broadcast Sunday that spending cuts "indeed generally lead to the economy not being able to grow so much."
However, she said there are plenty of examples of countries where International Monetary Fund programs have been implemented and "very strong phases of growth come after a certain phase of recession.
Angela Merkel last night insisted she wanted Greece to stay in the euro amid rumours that Germany was planning a ‘temporary’ exit for the country. The German Chancellor sought to reassure Greek prime minister Antonis Samaras over th... Read Post
Angela Merkel launched a staunch defence of Europe's fiscal pact as politicians from the Netherlands, Spain and Greece scrambled to keep their own austerity measures on track. In a rare concession, the German Chancellor admitted tha... Read Post