Solidarity in euro zone should not lead to debt union, says Angela Merkel

German Chancellor Angela Merkel appeared on Saturday to rule out debt relief for Italy, saying in a newspaper interview that the principle of solidarity among members of the euro zone should not turn the single currency bloc into a debt-sharing union  

Solidarity in euro zone should not lead to
In addition to a banking and capital markets union, the euro zone should turn the ESM into an EMF with powers to give member states hit by sovereign debt troubles shorter-term credit lines,Angela Merkel said. Image source: Reuters

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