Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Friday, August 01, 2014  

EU crisis far from over: Merkel
BERLIN The euro zone 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 a taped interview to be broadcast on Monday evening, Merkel urged Germans to be more patient even though the euro zone crisis has already dragged on for three years. She drew a line linking German prosperity to a prosperous European Union.

“For our prosperity and our solidarity we need to strike the right balance,” Merkel said. “The European sovereign debt crisis shows how important this balance is.

“The reforms that we’ve introduced are beginning to have an impact,” she said. “Nevertheless we need to have further continued patience. The crisis is far from over.” Merkel indirectly contradicted Finance Minister Wolfgang Schaeuble with those comments. In an interview on Friday in Bild newspaper Schaeuble said the worst of the crisis was over.

Germany has been the paymaster in the euro zone crisis, to the chagrin of many German voters and a growing bloc of conservative lawmakers in Merkel’s coalition. Germans remain wary of euro zone bailout efforts but give Merkel high marks for what they consider to be her judicious handling of the crisis.

Merkel proudly pointed out that unemployment in Germany had fallen to its lowest level since reunification in 1990 while the number of people employed had also risen to record highs.

“That means that many hundreds of thousands of families have a secure future,” said Merkel. “And that means that a lot of young people have the security of training and jobs and thus will get off to a good start in their careers.”

But in face of slowing economic growth, 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 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.

Merkel said she hoped there would be more controls next year on international financial markets - a popular issue in Germany that the SPD is planning to make a central plank of its 2013 election campaign.

“The world hasn’t sufficiently learned the lessons of the devastating 2008 financial crisis,” she said. “Never again can we allow irresponsibility like back then to happen. In a social market economy, the state is the guardian of order - and that is something people should be able to count on.”

Meanwhile, the euro zone is more stable than it was this time last year and price pressures are well contained.

Agencies
NEWS UPDATES
Oman
Splendid mosques dominate Muscat skyline
City Centre to hold Chaplin show
Other Top Stories
Liberia enforces tough measures to fight Ebola
Imam of China mosque killed in Xinjiang
12 killed in Douma as IS orders women to cover up
WHO advises against flight curbs over Ebola
Gaza war leads to rise in anti-Semitic incidents in UK
India
Delhi stands firm despite Kerry push for WTO deal
Pune landslide toll mounts to 31
Proposals to amend labour laws get cabinet nod
World Bank calls for cut in excessive spending on unneeded medical care
Village bursts with joy as soldier’s son becomes army chief
I’ll write my book to tell truth, says Sonia
Pakistan
Bodies of 20 drowning victims found in Karachi
Spate of acid attacks on women casts pall of fear over Balochistan
US conference explores Pak energy options
Middle East
Iran slams Egypt delay in allowing aid access to Gaza
49 die as Syrian Kurds clash with IS rebels, seize positions
Quds Force chief slams calls to disarm Hamas
Clashes resume in Tripoli over control of airport
US suicide bomber in Syria ‘spent months back home’
Don’t forget crisis in S. Sudan: Tutu
Asia
China seizes 12 tonnes of candy laced with toxin
Philippines to evacuate 13,000 nationals from strife-hit Libya
Nepal retracts ban, cremates monk
Business
Argentina falls into default as talks with creditors fail
Microsoft to take on US court over overseas data
Samsung to ramp up mid-to-low-tier product lineup as profits slide
Rising interest rates to hit G20 growth
Japan electronics majors in black
Shell Q2 profit rises 33% despite $2b impairments
Philippines hikes interest rates to curb inflation
Exxon net jumps 28% on firm crude prices
EU jobless rate slips to 11.5%, deflation fears rise as inflation falls
Europe
Explosions heard as experts reach MH17 crash site
Nato unprepared, complacent about threat from Russia: UK lawmakers
Switzerland to vote again for ties with EU: President
UK inquiry to probe Russia’s role in death of Litvinenko
Greek court ruling on migrant workers’ shooting sparks fury
Sports
Celtic’s Euro dream hangs by a thread
Neymar aims for August 18 return to action
Serena shows no signs of rust as she routs Pliskova
Berdych, Raonic win as Isner falls at Washington
James conquers 400m star-studded track
Indian shooters flourish amid mixed fortunes
Katoatau lifts maiden gold for Kiribati
England snap 10 Tests winless run
Americas
UN concerned by US plan to deport child migrants
House Republicans vote to file suit against Obama over healthcare law
Bush authors personal biography of president dad
USB devices can serve as ‘new targets’ to hack personal computers
Mexico ex-governor’s son says he was forced to meet drug cartel boss
Lucas still lives in Skywalker Ranch

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution