| Author (Person) | Peel, Quentin |
|---|---|
| Series Title | Financial Times |
| Series Details | 2.12.11 |
| Publication Date | 02/12/2011 |
| Content Type | News |
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Report of a speech by German Chancellor Angela Merkel to the Bundestag, 2 December 2011. She called for European Union treaty change to introduce as quickly as possible a legally-binding set of rules for the eurozone’s fiscal union. She added that the the eurozone was not facing a debt crisis, but a crisis of confidence that would take years to resolve. Ms Merkel confirmed that she and Nicolas Sarkozy, the French President, would present a reform plan together on the 5 December 2011 which would be aimed at creating a 'stability union' of the 17 eurozone countries, with stricter budget discipline rules, and tougher sanctions, with stricter surveillance of national budgets. Ms Merkel stressed it was vital to have those rules made legally binding and as automatic as possible. |
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| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Countries / Regions | Europe, Germany |
