"Change the European treaties and punish more severely those who systematically violate the stability pact“. Angela Merkel said this in her speech in Berlin at the Bundestag, who must give the green light to the new strengthening of the state-saving fund, adding that "it is necessary to eliminate the weaknesses in the construction of the Monetary Union", while "if the euro, Europe would fail and this must not happen”.
German Chancellor Angela Merkel she also pledged to reach sustainable solutions to tackle the European debt crisis at this afternoon's eurozone summit, even though no one should expect overnight solutions, she added.
"I will work to ensure that sustainable decisions are reached tonight“, the chancellor told the Bundestag, ahead of the vote of the German parliament on the proposal to increase the financial leverage of the bailout fund.
Merkel then claimed to want suggestions by December on how to strengthen EU stability, adding that it must be possible to ask individual countries to answer before the Union court for any violations of the budgetary rules.
Merkel later explained that talks are underway with the IMF for its greater involvement on the European front, while he added that, on today's occasion, possible schemes involving the ECB are not being discussed.
On the Greek question Merkel in particular wants the country to get back on its own feet as soon as possible, while emphasizing that it will be a long journey and that a debt write-down would not solve its problems by itself.
"We will certainly have to accompany Greece for some more time," said the chancellor, adding that permanent monitoring of the country would be desirable for Germany. However," he said, " the goal of tonight's discussions in Brussels will be to find solutions to bring Greece's debt-to-GDP ratio to 120% by 2020.
