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May 8, 2012

German Chancellor Rejects Call to Remake Euro Austerity Pact 
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In other European news, German Chancellor Angela Merkel has rejected
calls by newly elected French President Francois Hollande to renegotiate
the European fiscal pact that has led to widespread austerity measures
across the continent. Merkel spoke at a news conference on Monday.

Chancellor Angela Merkel: "We in Germany are of the opinion, and so am I
personally, that the fiscal pact is not negotiable. It has been
negotiated and has been signed by 25 countries, it has been ratified by
Greece and Portugal, in Ireland there will be a referendum on May 31.
And I think that the fiscal pact is right. And it is a basic approach in
Europe that we do not change everything we have decided upon already
after elections — whether in big or small countries. If that was
the case then we could not work in Europe."

 

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