17 May, 2012, 11.02AM IST, New York Times
BERLIN: Chancellor Angela Merkel of Germany said Wednesday that she was ready to discuss stimulus programs
to get the Greek economy growing again and that she was committed to keeping Greece in the eurozone, signaling
a softer approach toward the struggling country.
<a href="http://s1267.photobucket.com/albums/jj559/365Wildfire/?action=view&current=article-0-12F762FA000005DC-59_306x423.jpg" target="_blank"><img src="http://i1267.photobucket.com/albums/jj559/365Wildfire/article-0-12F762FA000005DC-59_306x423.jpg" border="0" alt="Photobucket"></a>
The fierce rhetorical salvos out of Germany in the past week gave way to conciliatory gestures by Merkel, who
throughout the crisis has shown a propensity for managing through brinkmanship. "I have the will, the determination
to keep Greece in the eurozone," she said in an interview on CNBC on Wednesday, in what appeared to be an attempt
to relax an increasingly tense situation.
If Greek officials are looking for "stimulus to be pursued for growth in the eurozone, which we could pursue in the
interest of Greece, we're open for this," Merkel said. "Germany is open for this."
Europe was shaken anew this week by the chaos in Greece, where a bank run threatened to hasten the country's exit
from the euro and jeopardize the Continent's financial stability.
While the impact of a country leaving the euro is hard to predict, economists fear the crisis could spread to much larger
countries like Spain and Italy if financial markets bid up borrowing rates to unsustainable levels.
BERLIN: Chancellor Angela Merkel of Germany said Wednesday that she was ready to discuss stimulus programs
to get the Greek economy growing again and that she was committed to keeping Greece in the eurozone, signaling
a softer approach toward the struggling country.
<a href="http://s1267.photobucket.com/albums/jj559/365Wildfire/?action=view&current=article-0-12F762FA000005DC-59_306x423.jpg" target="_blank"><img src="http://i1267.photobucket.com/albums/jj559/365Wildfire/article-0-12F762FA000005DC-59_306x423.jpg" border="0" alt="Photobucket"></a>
The fierce rhetorical salvos out of Germany in the past week gave way to conciliatory gestures by Merkel, who
throughout the crisis has shown a propensity for managing through brinkmanship. "I have the will, the determination
to keep Greece in the eurozone," she said in an interview on CNBC on Wednesday, in what appeared to be an attempt
to relax an increasingly tense situation.
If Greek officials are looking for "stimulus to be pursued for growth in the eurozone, which we could pursue in the
interest of Greece, we're open for this," Merkel said. "Germany is open for this."
Europe was shaken anew this week by the chaos in Greece, where a bank run threatened to hasten the country's exit
from the euro and jeopardize the Continent's financial stability.
While the impact of a country leaving the euro is hard to predict, economists fear the crisis could spread to much larger
countries like Spain and Italy if financial markets bid up borrowing rates to unsustainable levels.
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