Merkel blocks quick deal on debt crisis

 

Tony Paterson
Monday 24 October 2011 23:25 BST
Comments
(Getty Images)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Angela Merkel signalled her intention yesterday to put German domestic opinion ahead of diplomatic niceties as European leaders began five days of intense wrangling over an attempt to resolve the eurozone debt crisis. At Germany's insistence, tomorrow's gathering in Brussels will be a mere warm-up for a more important summit next Wednesday.

The German Chancellor tried to play down the disruption caused by her decision to push back the timetable. "Thoroughness has to take precedence over speed in combating the euro crisis," she told a meeting of her ruling coalition in Berlin.

But the move reflects her determination to get full political support at home before signing up to any further eurozone rescue measures.

The move also sent a clear message to eurozone leaders who have been pushing for a more extensive bailout package: Ms Merkel will not agree to anything that German parliamentarians, and by extension the German people, are not prepared to sanction.

The German Finance Minister, Wolfgang Schäuble, insisted at the same meeting of MPs yesterday that Germany would not agree to the French government's favoured plan to use the European Central Bank to "leverage" the European bailout fund.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in