GERMAN chancellor Angela Merkel warned in a campaign speech yesterday that countries that do not do their homework on reducing debts will not be able to count on support from Eurozone countries.
Merkel told a rally in the northeastern German state of Mecklenburg-Vorpommern that countries which are willing to make a lasting and credible detour away from policies of heavy indebtedness can count of solidarity from other Eurozone states.
“But those that don't do their homework will not get our support,” Merkel said at the rally of her conservative Christian Democrats (CDU) in the state capital Schwerin ahead of an election this week.
Merkel also spoke out once again against the issuance of joint eurozone bonds.
She also criticised the opposition Social Democrats (SPD), who rule in Mecklenburg-Vorpommern, along with the Greens for their backing of the eurozone bonds idea.
Merkel said it defies “common sense” to try to solve the sovereign debt crisis simply by putting all nations’ debts into a single pot.