Sep 7, 2011

If the euro falls, Europe will fall - Merkel

The disappearance of the euro will lead to a drop in Europe, warned on Friday, German Chancellor Angela Merkel, speaking to the delegates of the World Economic Forum (WEF) in Davos.

"Euro - it's our currency, and if the euro falls, Europe will fall. Therefore we will continue to defend the euro, and there is no doubt, "- said Merkel. At the same time, she stressed that there should be realistic, and the leaders of European countries should be united in our determination to jointly overcome the current problems, especially the large accumulation of public debt.

"There is no crisis, the euro is primarily a debt crisis", - said the German chancellor. Merkel called positive by the fact that France now leads "a group of twenty" as "agenda, which is here presented the French president, is based on the right moment." Nicolas Sarkozy, speaking at the plenary session, assured that "Mrs Merkel and I will never give abyss euro." "Euro - is not just currency, but also a question of economics, identity (the Europeans)," - said Sarkozy. The head of the German government said that it is not certain that the world leaders, including heads of "twenty", fully learned the lessons of the crisis.

"What we've done is not enough" - said Merkel. According to her, to avoid a new global financial crisis and the need to focus on monetary systems, making them more resistant to complete the Doha round of talks to liberalize world trade and prevent speculation on commodity markets.

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