Post by kosovohp on May 15, 2012 0:40:42 GMT -5
BERLIN (AP) — German Chancellor Angela Merkel pushed forward Friday with what markets see as an emerging plan for more effective action to contain the European financial crisis, urging tougher rules against government overspending.
She said next week's European Union summit would take up ways to enforce compliance and write those changes into EU treaties — a drawn-out process.
"The European crisis will not be solved in one fell swoop," Merkel said. "It's a process, and this process will take years."
The push by Merkel on debt rules — a day after French President Nicolas Sarkozy made the same case — is being seen as one half of a fresh approach by European leaders to finally get a grip on the crisis more than two years after it started in Greece.
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