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Germany’s Merkel: Euro Helped Euro Zone Through Crisis

3/01/10

HANNOVER, Germany (Dow Jones) – The strength of the euro helped European countries that share the common currency overcome the economic crisis, Germany’s Chancellor Angela Merkel said Monday.

“The euro brought us through the crisis,” Merkel told attendees of a technology fair in Hannover.

Merkel added that euro zone nations must support the strength of their currency with responsible fiscal policies, and mentioned that Greece, in the midst of a budget crisis, must make tough decisions to steer toward responsibility.

Greece has been under intense pressure from the EU and financial markets since revealing late last year that its 2009 budget deficit was forecast to reach 12.7% of gross domestic product–four times above EU limits.

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