January 25, 2012
Angela Merkel offers Davos her vision for saving the euro with a federal Europe refashioned on German lines.
By Tom Buerkle
If anyone can save the euro, its Angela Merkel. And the German chancellor made clear Wednesday that she is determined to save the single currency as long as it is on German terms.
Euro angst dominated the opening session of the World Economic Forum in Davos, Switzerland. Europes debt crisis remains the biggest cloud hanging over the global economy. In fact, while in Europe this week, several key forum participants are frantically trying to negotiate the terms of a Greek debt rescheduling to prevent the country from defaulting.
A panel of bankers and economists organized on the margins of the forum by the U.K. law firm Clifford Chance offered plenty of pessimism about monetary union.
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