Thursday, December 16, 2010

German MPs clash on future of eurozone

Angela Merkel, the German chancellor, was fiercely criticised in the German parliament on Thursday on the eve of a critical European Union summit in Brussels, as opposition leaders accused her of being indecisive and un-European in the face of the eurozone debt crisis.
After months of cautious sniping, the centre-left Social Democratic party and the environmentalist Greens on Wednesday attacked the German chancellor head-on for damaging the country's reputation with its EU partners.
The clash came as Moody's warned it may downgrade Spanish government bonds because of the country's likely difficulty in raising some €300bn next year, the problems of its savings banks and the debts of its autonomous regions.

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