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 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
German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted. ||| German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis... Read Post