Tuesday, October 18, 2011

Germany tamps down eurozone summit expectations (AP)

BERLIN ? German Chancellor Angela Merkel's spokesman is tamping down expectations an upcoming weekend EU meeting will solve the European debt crisis, saying it is only an "important step" on a long road.

Steffen Seibert told reporters Monday that European leaders were talking about a package that would help support the banking sector, address questions about the European Financial Stability Facility, and facilitate eurozone countries working more closely together.

But he says "the chancellor has said that the dreams that are taking hold again that with this package everything will be solved and everything will be over on Monday will again not be fulfilled."

He says "these are important steps on a long path, and that is a path that will continue far into next year where other steps must follow."

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111017/ap_on_bi_ge/eu_europe_financial_crisis

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