Germany will back European Central Bank bond purchases to help overcome the euro-area debt crisis only if such an operation is limited and recipient countries agree to strict conditions, said a senior ally of Chancellor Angela Merkel.
Spain and Italy are doing enough to curb deficits and investors are unreasonable if they expect European governments to put up yet more money to combat the debt crisis, according to a senior lawmaker from Chancellor Angela Merkel’s party.
Greece will struggle to cut its debt load as envisaged by international assessors even with the return of modest economic growth next year, said German Christian Democratic Union lawmaker Michael Fuchs.
Euro region states that tap aid in the debt crisis should sell gold reserves and buy back their sovereign debt, Michael Fuchs, a lawmaker from German Chancellor Angela Merkel’s Christian Democrats, was cited as saying by Wirtschaftswoche.
Prime Minister Silvio Berlusconi should resign and be replaced by a leader capable of pulling Italy out of its debt misery, a senior lawmaker from German Chancellor Angela Merkel’s Christian Democratic Union said.