Word: merkel
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...unemployment rises. "The U.S. government should better familiarize itself with economic-stimulus measures in Europe that have already been started or are about to get started," German Finance Minister Peer Steinbrück said at a meeting of E.U. economic and finance ministers on March 9. German Chancellor Angela Merkel said in February that she wants the G-20 summit to focus on reforming financial markets and that she sees the stimulus debate as a distraction...
...summit in Brussels on March 1, German Chancellor Angela Merkel rejected the call for a mass bailout. Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of the eurozone's finance ministers, dismissed the idea of relaxing the entry criteria to the euro. And French President Nicolas Sarkozy, who just a few weeks ago raised the specter of a return to protectionism when he suggested that French carmakers should close their factories in the East and move home, accused Eastern Europe of putting the entire E.U. at risk...
...once proud matriarch was seen in tears on German television, leading employees in a demonstration to prod the government to bail out her hapless clan and save thousands of jobs. But given the Schaeffler Group's "greed is good" image, it was no surprise that Chancellor Angela Merkel said nein...
...German Chancellor Angela Merkel rejected calls for a mass bailout. And Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of the Eurozone's finance ministers, dismissed appeals by wannabe members to relax entry criteria for single European currency. U.K. Prime Minister Gordon Brown - clearly eying French President Nicolas Sarkozy - denounced protectionism as a "road to ruin". And Sarkozy himself testily denied being protectionist but then accused eastern Europe of putting the entire E.U. at economic and political risk...
...response so far is partly down to a lack of institutional architecture: the European Central Bank, for example, has far fewer resources than the U.S. Federal Reserve, while the European Commission can only work with the budget provided by E.U. member states. At the same time, leaders like Sarkozy, Merkel and Brown have been too busy putting out fires at home to provide strong leadership out of the crisis...