October 26, 2011
German Chancellor Angela Merkel, facing a parliamentary vote on a new euro rescue package on Wednesday, said she was convinced the measures can help the EU to overcome the crisis. She declared that Europe's peace and prosperity were at stake, and that history would condemn EU leaders if they failed to live up to their duty.
German Chancellor Angela Merkel said on Wednesday that Europe's future prosperity and peace were at stake in talks to overcome the debt crisis, and political leaders had a historic duty to restore economic stability.
"What is good for Europe is good for Germany, half a century of peace and prosperity in Germany and Europe testify to that," she said in a speech to the German parliament ahead of a vote on a comprehensive package of measures to rescue the euro, due to be agreed by European Union leaders at an emergency summit on Wednesday night.
"No one should think that a further half century of peace and prosperity is assured. It isn't. And that's why I say if the euro fails, Europe will fail, and that mustn't happen."
The Bundestag, Germany's parliament, is due to vote on measures including the controversial boosting of the €440 billion euro rescue fund, or European Financial Stability Facility, through leveraging, a risky move seen as necessary to enable it to contain the crisis.
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