The Straits Times
Published on Nov 21, 2012

Merkel sees chance for Greek deal on Monday


BERLIN (REUTERS) - German Chancellor Angela Merkel said on Wednesday she saw a chance for a deal to release emergency aid for Greece at a meeting of European finance ministers on Monday, but rejected the idea that big bold actions could solve Europe's crisis overnight.

"I believe there are chances. One doesn't know for sure, but there are chances to get a solution on Monday," Dr Merkel told the Bundestag - the Lower House of Parliament - in a debate on the German budget.

"But the longing for one act, one miracle solution, one truth that means all our problems are gone tomorrow, this will not be fulfilled. What was neglected over years, over decades, cannot be taken care of overnight and therefore we will need to continue to move step by step."

Dr Merkel added that European Union leaders may be forced to meet again early next year to secure agreement on the 27-member bloc's long-term budget.