Wall Street Journal
October 26, 2011
The euro-zone is facing the toughest test since its inception, and governments must ensure that the debt crisis doesn't spread from Greece to other countries, Chancellor Angela Merkel said Wednesday.
Ms. Merkel, speaking in Germany's lower house of parliament ahead of a vote on the European Financial Stability Facility, said Germany can't prosper without Europe.
"We must solve the current crisis and correct mistakes from the past," Ms. Merkel said, adding that she wants to push for sustainable decisions to be made at a summit of European Union government leaders later Wednesday in Brussels where leaders are expected to announce a package of measures to contain the sovereign-debt crisis.
A broad majority in the house is virtually certain to support a resolution backing a package of options to boost the firepower of the €440 billion ($611.91 billion) fund to more than €1 trillion without increasing contributing countries' guarantees for the fund. All major parties approved the resolution in their parliamentary groups on Tuesday, making the resolution's passing highly likely.
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