Merkel: Greece should not have been let into eurozone

BERLIN German Chancellor Angela Merkel has said that Greece "should never have been allowed to join the eurozone." This "once again confirming her extremely firm position on EU finances," according to reports. Merkel: Greece should not have been let into eurozone Merkel blamed her predecessor Gerhard Schroeder for the fact that the country that suffered the worst consequences of the crisis is a member of the eurozone at all. "Greece should never have been allowed to join the eurozone. Schroeder accepted them in 2001 and weakened the Stability Pact. Both decisions were fundamentally incorrect, and the starting point of our current troubles," Merkel was quoted as saying. The German chancellor's pre-election speech reiterated her position in favor of a strong single currency in Europe, but she also told her supporters that this could only be achieved through reforms in shaken countries like Greece. "The common currency zone is such a treasure, such a blessing, that there is no suspicion of any kind. For this reason the euro is much more than a currency. That's why we show solidarity, but solidarity is always associated with the responsibility for reforms in the countries that have experienced our solidarity," Merkel said. These statements from the influential EU leader arrived a few days after her finance minister Wolfgang Schaeuble said that Greece will need another bailout. As the German public is generally opposed to giving further assistance to crisis-stricken countries, this caused dissatisfaction, and Merkel said she was not in favor of further write-offs of the Greek debt, "because it could lead to a new loss of confidence in the eurozone." (Beta/AP, file) B92

Merkel: Greece should not have been let into eurozone

Merkel blamed her predecessor Gerhard Schroeder for the fact that the country that suffered the worst consequences of the crisis is a member of the eurozone at all.

"Greece should never have been allowed to join the eurozone. Schroeder accepted them in 2001 and weakened the Stability Pact. Both decisions were fundamentally incorrect, and the starting point of our current troubles," Merkel was quoted as saying.

The German chancellor's pre-election speech reiterated her position in favor of a strong single currency in Europe, but she also told her supporters that this could only be achieved through reforms in shaken countries like Greece.

"The common currency zone is such a treasure, such a blessing, that there is no suspicion of any kind. For this reason the euro is much more than a currency. That's why we show solidarity, but solidarity is always associated with the responsibility for reforms in the countries that have experienced our solidarity," Merkel said.

These statements from the influential EU leader arrived a few days after her finance minister Wolfgang Schaeuble said that Greece will need another bailout.

As the German public is generally opposed to giving further assistance to crisis-stricken countries, this caused dissatisfaction, and Merkel said she was not in favor of further write-offs of the Greek debt, "because it could lead to a new loss of confidence in the eurozone."