Merkel defends austere Eurozone

German Chancellor Angela Merkel criticised her centre-left opposition for blocking her government’s efforts to cut income taxes by €6bn (£4.9bn), telling a German newspaper those parties will have to explain that to voters in next year’s election. Merkel, seen as the main proponent for austerity in the Eurozone, told the Financial Times today that the currency bloc must “work very hard” to remain competitive.