angela merkel
Not quite a u-turn, but Germany’s no nonsense Chancellor Angela Merkel has agreed to support the European financial aid package for Greece, but only if ‘certain conditions are met.’
Merkel made it clear that Germany would play its part in order to ensure the stability of the euro, but warned that Greece must be ready to accept ‘tough measures’ over several years as a consequence.
The German Chancellor did not elaborate on what the conditions are likely to be, but her comments are likely to ease the pressure on Greece and the euro, temporarily at least.
It is possible that for Germany a stable euro is more important than the financial crisis in Greece, but both go hand in hand in the current climate and the situation in Greece is causing concern amongst investors and speculators in the money market threatening to undermine the value of the euro
Angela Merkel told reporters;
“Germany will help if the appropriate conditions are met. Germany feels an enormous obligation towards the stability of the euro. If Greece is ready accept tough measures, not just in one year but over several years, then we have a good chance to secure the stability of the euro for us all.”
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