Merkel Says Euro Rescue Funds Needed Against Speculators

Europe’s rescue funds help protect the euro area against investors who speculate against member countries, German Chancellor Angela Merkel said.

“Europe’s stability is absolutely important for our own economy and our own economic strength,” Merkel said in her weekly podcast today. “And I am deeply convinced: We need long- term, reliable instruments of solidarity also to gird against speculation by the markets.”

While solidarity is needed to ensure Europe’s stability, it requires countries that receive aid to do “something in return” to overhaul their economies, she said.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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