Merkel says court ruling confirms German euro policy

7th September 2011, Comments 0 comments

German Chancellor Angela Merkel said that a pivotal court ruling Wednesday upholding rescue packages for stricken eurozone members confirmed Berlin's policies during the debt crisis.

"This is what the Constitutional Court confirmed without a doubt: responsibility for one's actions and solidarity -- solidarity and a transparent, open way of operating, of course with the co-determination of the parliament," she told deputies. "That is exactly the road we have taken."

Merkel appeared relieved by the court decision, which ruled that rescue packages for Greece and other stricken eurozone countries were legal but that parliament must have greater say in any future bailouts.

She hit out at critics who said that Germany, the paymaster for the eurozone aid packages, had been too hesitant in the crisis and too strict in its demands for austerity from recipient countries.

"Sweeping all the problems under the carpet and talking about solidarity won't bring us stability," she said, renewing a call for debt-mired states to implement structural reforms.

"The problems of a single country can imperil the currency. That is why I say we need more Europe."

Merkel said this must include stricter enforcement of the European stability and growth pact including consequences for states that breach public deficit limits.

© 2011 AFP

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