Eurozone set for fiscal union, says Merkel

German Chancellor Angela Merkel reported back to the Bundestag on the 14 December 2011 on the results of European Council, Brussels, 8-9 December 2011.

She said that Member States of the eurozone have set themselves on an 'irreversible course towards a fiscal union' to underpin their common currency, even if it may take years to reach that goal.

Mrs Merkel warned that it would take 'not weeks or months but years' to cure the causes of the debt crisis in the eurozone. There would be no single great rescue measure that would solve its problems.

She saw Germany taking a leadership role in resolving the bloc's debt crisis.

ESO: Background information: Eurozone countries sign-up to closer ties http://www.europeansources.info/record/eurozone-countries-sign-up-to-closer-ties/

ESO: Background information: EU treaty hopes come under strain http://www.europeansources.info/record/eu-treaty-hopes-come-under-strain/

Deutsche Welle, 15.12.11: Merkel calls for a sustainable solution to Europe's problems http://www.dw-world.de/dw/article/0,,15601971,00.html

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