Wednesday September 30, 2020

Merkel isolated as critics demand action

With top ally Nicolas Sarkozy gone, Germany's Angela Merkel is under increasing pressure to change policy direction.

1st June, 2012
Angela Merkel

German Chancellor Angela Merkel was besieged by critics for letting the euro crisis smoulder, with the leaders of Italy and the European Central Bank demanding bolder steps to stabilize the 17-nation economy.

Italian Prime Minister Mario Monti and ECB President Mario Draghi pushed Germany to give up its opposition to direct euro-area aid for struggling banks. Monti further antagonised Germany by urging a roadmap to common borrowing.

Calling himself a devotee of German-style budgetary rigour,...

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