Angela Merkel insists Europeans must press ahead with reforms

German chancellor Angela Merkel said today that Europe's heavily indebted nations must push ahead with structural reforms to get their economies back on track and must not rely on government spending to foster growth.

Labour market and other reforms do not heal economies overnight but are the right way toward sustainable growth, Merkel said. "It would be absolutely wrong" not to pursue the path of reforms, she said.

Merkel, the leader of Europe's biggest economy, has long advocated a mix of austerity measures and structural reforms, especially for struggling southern European nations like Greece, as well as Ireland, which had to be bailed out by its European peers.

Read Full Article from The Independent

- Posted: 2012-06-12 12:16:54

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