German Chancellor Angela Merkel said on Wednesday she sees 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,” Merkel told the Bundestag 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.”
European finance ministers, the European Central Bank and International Monetary Fund (IMF) failed for the second week running to reach a deal to free up new aid for Greece. They are to meet again on Monday.
Merkel added that EU leaders may be forced to meet again early next year to secure agreement on the 27-member bloc's long-term budget. They are due to hold a summit on the budget on Thursday and Friday of this week. - Reuters