Merkel Wants Overhaul of Euro Zone in 2-3 Years

German Chancellor Angela Merkel called on fellow European leaders on Wednesday to agree an ambitious, concrete plan for closer fiscal and economic integration next month that can then be put in place over the next two to three years.

In a speech to the European Parliament in Brussels, Merkel said the crisis-hit currency bloc could only win back confidence by pressing ahead with economic reforms and laying out a roadmap for deeper unity.

"I will work to ensure that we agree an ambitious roadmap in December for renewing our economic and monetary union," Merkel said. "It should include concrete measures that we can implement over the coming two to three years."

EU leaders are due to meet in mid-December to discuss changes to the rules governing their common currency, including closer coordination of economic policies.

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- Posted: 2012-11-07 14:51:14

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