Germany's Merkel: Confident Italy Will Consolidate Budget IMarketnews.com
BERLIN (MNI) - German Chancellor Angela Merkel said Monday she had told Italian Prime Minister Silvio Berlusconi that Italy needs to make clear that it will take on the necessary consolidation of its budget.
"It is a very important signal that Italy has to send itself that it will pass a budget that is taking account of the necessary austerity and consolidation," Merkel told reporters here.
"I have full confidence that the Italian government will pass exactly such a budget and I talked exactly about this yesterday on the phone with the Italian prime minister," the chancellor said.
Merkel argued that the euro is stable but some countries have a debt problem. She once again vowed that "Germany and all euro partners are firmly determined to defend the stability of the euro overall."
"We have taken many measures in this regard and will also do in the future what is necessary," she stressed.
Turning to Greece, the chancellor stressed that the new fiscal aid program needed to be decided very rapidly "and this will be discussed in that way at today's Eurogroup meeting."
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