Merkel Says Euro in ‘Exceptionally Serious’ Situation
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German Chancellor Angela Merkel said the euro is in an “exceptionally serious” situation after Ireland became the second European country to need a rescue after Greece.
“I don’t want to paint a dramatic picture, but I just want to say that a year ago we couldn’t imagine the debate we had in the spring and the measures we had to take” over Greece, Merkel said in a speech to Germany’s BDA employers’ group in Berlin today. “We are facing an exceptionally serious situation as far as the euro’s situation is concerned.”