Germany calls for eurozone stability

7th October 2011, Comments 0 comments

Germany's economy minister Philipp Roesler on Friday called for more stability in the eurozone to deal with debt turbulence as Greece pledged to fully repay its EU loans.

"We need to come to more stability in the eurozone, so that we can send a clear signal that we are ready to fight for our common currency," Roesler, who is on an investment visit to Athens at the head of a large business delegation, told reporters.

"We agreed there are two main causes for the crisis: a lack of competitiveness and the high debt," said the minister, who is also Germany's vice-chancellor.

Roesler's visit is part of an agreement between Athens and Berlin in March to cooperate on renewable energy development.

In August, Greek and German officials discussed a plan to develop some 20,000 hectares of solar power parks in a bid to export renewable energy to Germany.

Germany is also the main contributor to a 110-billion-euro ($147-billion) EU-IMF loan that staved off a Greek bankruptcy last year.

Greek Finance Minister Evangelos Venizelos told the same news conference that Athens intended to repay the loan in full.

"We need to persuade German citizens that the help given to Greece is beneficial to Germany in multiple ways. Greece will honour the help to the last euro," Venizelos said.

© 2011 AFP

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