No European country will be 'abandoned': Merkel

15th December 2010, Comments 0 comments

No European Union member will be "abandoned," German Chancellor Angela Merkel said Wednesday ahead of an EU summit set to be dominated by the euro crisis.

"No one in Europe will be left alone, no one in Europe will be abandoned. Europe succeeds when it acts together and I would add, Europe succeeds only when it acts together," Merkel said in a speech to parliament.

Ireland last month became the second eurozone member after Greece to seek a bailout, tapping a 750-billion-euro (one-trillion-dollar) temporary mechanism set up by the EU and the International Monetary Fund.

There are fears that rising borrowing costs might force other countries in the 16-nation eurozone, most notably Portugal and Spain, to follow suit, leading to fears in some quarters that the eurozone might fall apart.

Merkel said that certain members of the 16-nation eurozone faced an uphill task in repairing their public finances but she expressed confidence that the single currency would survive.

"It is undeniable that some eurozone countries face difficult challenges but it is also undeniable that the euro has shown itself to be crisis-proof," Merkel said.

© 2010 AFP

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