Reuters
July 19, 2011
German Chancellor Angela Merkel, Europe's reluctant paymaster, doused expectations of any comprehensive solution to Greece's debt crisis at an emergency euro zone summit on Thursday.
"Further steps will be necessary and not just one spectacular event which solves everything," Merkel told a joint news conference on Tuesday with visiting Russian President Dmitry Medvedev.
The widespread longing for a single, final solution to make the Greek crisis disappear once and for all was unrealistic, she said, as officials wrestled with complex options for involving private bondholders in a second financial rescue for the debt-stricken euro zone state.
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