Merkel Says Washington Helped Drag Europe into the Credit Crisis
By Joshuah at 23 September, 2008, 6:23 am
Source: SPIEGEL ONLINE
The United States government is campaigning around the world for support for its multibillion-dollar Wall Street rescue package. The reaction has been skeptical at best — and in Europe the plan has been met with bareknuckled criticism.
German Chancellor Angela Merkel has accused the US government of serious failures which she believes contributed to the current credit crisis. In particular she blamed Washington for resisting stricter regulation.
On Monday she also said the crisis could hurt the German economy. “The whole thing is going to set the pace for the economy in the coming months and perhaps years,” Merkel said at a meeting of her party, the conservative Christian Democrats.
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