Merkel demands greater economic harmonization in Europe
German Chancellor Angela Merkel on Thursday urgently demanded greater harmonization of economic and financial policies within Europe, DPA reported.
Although the 1992 Maastricht Treaty had made Europe more unified, Merkel said integration within the European Union had not occurred at the same pace.
"We need to take the crisis as an opportunity to catch up on the omissions that were not addressed by the Lisbon Treaty," the chancellor added.
Merkel was speaking at an award ceremony in Aachen, where Polish Prime Minister Donald Tusk received Germany's prestigious Charlemagne Prize for his contribution to European unity.
"I paradoxically see the crisis as a chance to strengthen and further develop Europe," Tusk said earlier.
The chancellor warned that the euro currency faced an existential crisis.
"It is the biggest test that Europe has had to overcome since 1990, or even in the 53 years since the Rome treaties were passed," Merkel said.
"If it succeeds however, then Europe will be stronger than ever before," the chancellor added.