Skip to comments.Angela Merkel: Eurozone crisis 'far from over'
Posted on 12/31/2012 12:56:58 AM PST by bruinbirdman
The eurozone sovereign debt crisis is far from over even though reform measures designed to address the roots of the problem are beginning to bear fruit, German Chancellor Angela Merkel has said in her New Year's address.
In face of slowing economic growth, Mrs Merkel also warned that conditions could be more difficult in 2013 than in 2012.
"I know that many people are naturally concerned going into the new year," she said. "And the economic environment will not in fact be easier but rather more difficult next year. But we shouldn't let that get us down; rather it should spur us on."
Even though Mrs Merkel's conservative party holds a commanding 10-point lead in opinion polls over the Social Democrats (SPD), the centre-left opposition SPD and their Greens allies have a chance of taking power because Merkel's coalition allies, the Free Democrats (FDP) have slumped badly and may not win seats.
Political analysts believe Mrs Merkel nevertheless still has the most options to form a government after the vote. She could lead a right-left grand coalition with the SPD as she did from 2005 to 2009 or a coalition with the pro-environment Greens party.
"The world hasn't sufficiently learned the lessons of
(Excerpt) Read more at telegraph.co.uk ...
Of course it’s “far from over” because the EU elites (especially Germany’s elites that are “passionate” about European Union) haven’t gotten all they wanted out of it yet. Beneficial crises don’t end until the benefits are accrued.