Friday, December 14, 2012

Merkel Says 2012 a Year of ‘Great Progress’ in Tackling Crisis

German Chancellor Angela Merkel said this year has been marked by “great progress” toward solving Europe’s sovereign debt crisis.

“At the end of the year 2012 I want to say that we have achieved a lot,” Merkel told reporters in Brussels today before a meeting of European Union leaders. “It was a very laborious year, but it was also a year in which we made great progress,” she said, citing the establishment of the euro area’s permanent financial backstop and a pact on budgetary discipline.