Merkel urges EU leaders to stand up for battered euro

16th December 2010, Comments 0 comments

German Chancellor Angela Merkel urged European leaders to rally around the crisis-battered euro at a crunch summit beginning Thursday, saying its success depended on their unity.

Asked whether the European Union could head off even deeper turmoil in the eurozone, Merkel told the mass-selling daily Bild newspaper: "It would help if all 27 EU member states stood up for it together.

"At the EU summit, we will determine which strict rules we will implement to face future crises. In this way we will show: none of us doubt the euro. Speculators have no chance."

She said the euro has proven its strength in the crisis and will continue to be a stable currency.

"I will do everything I can to ensure the euro stays strong and we will be successful in cooperation with our partners in Europe," she said.

EU leaders hold a two-day summit -- their seventh and last of the year -- amid persistent concerns that Portugal and even wealthier Spain could tumble into the debt crisis that has rocked the euro.

Merkel has sought to silence fears of a eurozone break-up, telling parliament Wednesday: "No one in Europe will be left alone, no one in Europe will be abandoned."

© 2010 AFP

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