Merkel: Decade to beat debt crisis

2011-11-05 17:30
Berlin - Germany's leader says at least a decade is needed for Europe to pull itself out of the debt crisis, but sees "no reason to be pessimistic" if everyone "applies themselves and does their homework".

Chancellor Angela Merkel devoted her regular, weekly podcast on Saturday to reassuring Germans that despite a week of rattled markets and drama in Athens, Europe's debt crisis can be managed with time and effort.

Merkel says "this debt crisis will not simply go away", but it will "certainly be a decade before we are in a better position".

She insisted that despite the turmoil, she saw "no reason to be pessimistic", insisted that if Europeans band together, "everyone makes and effort and does their homework" they will pull through.

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