Merkel: Crisis in EU to Last at Least 5 More Years
The financial crisis in Europe will not be over before five years, according to German Federal Chancellor Angela Merkel.
"Whoever thinks that the crisis can be overcome in one or two years is wrong," said Merkel at a regional forum of her Christian Democratic Union in Mecklenburg-Vorpommern.
However, she added that according to her the European Union is on the right track and is taking the right steps for recovery.
"Many investors believe that we in Europe can keep our promises. We must show resolve to convince the world what it is worth it to invest in Europ," said Merkel.
The German Chancellor argued that it is vital for the EU's recovery to perform well in attracting outside investments.
- » EU Bank Watchdog Urges Bulgaria to Ensure Instant Access to KTB Deposits
- » Conservators at Bulgaria’s Corpbank Submit Audit Report
- » Finance Ministry Reopens 10.5-Year Issue of BGN-Denominated Govt Securities
- » Tsvetan Vasilev: BNB Not Willing to Discuss Options to Restructure Corpbank
- » Russian Bank To Acquire Bank Victoria?
- » Bulgaria Posts EU's Largest Annual Deflation Rate in September
too much too fast!!, many different countries, strong different identities forced into becoming one!. chucking lots of money into new european countries doesnt change the people overnight!.
I can see the UK pulling out soon to avoid being dragged down and hampering recovery, already much talk of this!, recovery underway!!. I can see Greece, Italy, Spain even France being isolated.... Ineresting watching when the shit hits the fan! must be a Bulgarian equivelent saying!!
“"Whoever thinks that the crisis can be overcome in one or two years is wrong," said Merkel”
Merkel, Europe would’ve never been in crisis if Western Europe weren’t so stubborn, conservative, outdated and narrow-minded in business and trade! (no wonder the Americans have the largest economy) The EU had the outstanding opportunity to invest in the emerging markets of Eastern Europe, Russia and Asia but your conservatism and narrow-minded approach dragged you to a near disaster!
Open your minds, show some flexibility and realize the opportunities! Focus on the emerging markets!
Build some prosperity!