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Portugal, euro questions dominate Merkel visit to Malta
Published in Saudi Press Agency on 10 - 01 - 2011


Questions about the strength of the euro and the
Portuguese economy were some of the key issues German Chancellor
Angela Merkel discussed Monday during her first-ever visit to Malta, according to dpa.
Concerns that Portugal could need a bailout have pushed the euro
to its lowest level in four months and renewed jitters about European
government debt.
But Merkel stressed Monday that Germany would never seek to force
another eurozone member to seek a bailout it didn't think it needed.
"We believe that every country has to make its own decisions," she
said. "We have never and would never, in any situation, apply
pressure on another nation."
But she added that Germany wants "a strong, stable Europe, a
strong euro."
Portugal has insisted for weeks that it will not need a bailout.
However, that has done little to calm investors, who watched last
year as Greece and then Ireland were left with no choice but to
request bailouts that came with requirements for stiff reforms.
Merkel called upon other eurozone countries to implement heralded
reforms in their budgets.
"We have believably shown, that there are new starts, especially
in the stability culture of the entire European Union," said Merkel.
"This trustworthiness must now be proven by fulfilling
responsibilities that have to be taken up individually."
Changing behaviour to achieve more stability would work, she said,
noting a major change in the way Europe has accepted its new
budgetary responsibilities. But she also warned the sins of the past
must not be repeated.
Maltese Prime Minister Lawrence Gonzi also called for more moves
to shore up Europe's state budgets, saying all tools must be employed
to stabilize the financial system. He pointed to Malta's own efforts
to boost economic growth, which Merkel praised.
"Malta has permanently brought in a new stability culture to the
European Union."
On other issues, Gonzi thanked Merkel for her offers to help Malta
overcome its refugee problem. Merkel noted that the refugee problem
has to be addressed in Africa.
Merkel also made a call for a European-wide electrical energy
network ahead of a February 4 EU summit on energy. Such a move would
create a continent-wide market for energy.
The German chancellor is to travel from Malta across the
Mediterranean to the divided island of Cyprus on Tuesday.


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