Merkel Is Optimistic on Euro Fiscal Commitments, Lidove Reports

German Chancellor Angela Merkel is optimistic that all euro-area members will honor their budget commitments, Lidove Noviny reported, citing an interview.

Greece has a difficult path ahead, though the country has come quite a long way with “tough” measures to increase its competitiveness, the Czech newspaper cited Merkel as saying. The euro area is moving toward a political union, and Europe needs to overhaul labor laws and boost spending on science and research to achieve sustainable growth, Merkel said, according to the newspaper.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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