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Merkel replies to France: "The crisis is not over, countries do their homework"

"The Stability and Growth Pact is so called because there can be no sustainable growth without solid finances," Merkel warns, replying to France who had said she did not want to respect austerity.

“We are not yet at the point where we can say that the crisis is behind us”. This was stated by German Chancellor Angela Merkel. "Countries must do their homework for their well-being", she added, recalling that the stability and growth pact "is so called because there can be no sustainable growth without solid finances". No one wishes "to go back to the time of spheres of influence", Merkel said later speaking in Berlin at the business day promoted by the BGA wholesale trade and foreign trade association. 

"No one expected a conflict in Russia like today," he added. The chancellor reiterated that dialogue with Moscow remains open, but she added that "economic sanctions were necessary". 

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