| Author (Person) | Daneshkhu, Scheherazade, Wiesmann, Gerrit |
|---|---|
| Series Title | Financial Times |
| Series Details | 14.1.12 |
| Publication Date | 14/01/2012 |
| Content Type | News |
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Article reported that German Chancellor Angela Merkel called on eurozone governments on the 14 January 2012 to speedily implement tough new fiscal rules after Standard & Poor’s downgraded the credit ratings of France and Austria and seven other second-tier sovereigns on the 13 January 2012. Ms Merkel called on governments to implement rules outlined in December 2011, and to activate 'as quickly as possible' the €500bn European Stability Mechanism (ESM), scheduled to succeed the old eurozone rescue fund European Financial Stability Facility (EFSF) midyear. Her call came as eurozone leaders tried to shrug off the downgrade by pointing to reforms already under way to haul the currency area out of its debt crisis – although their annoyance with Standard & Poor’s was also evident. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, France, Germany |
