Germany won't promise to support insolvent eurozone countries: Merkel
Germany will not promise to offer financial support to those insolvent countries in the eurozone, said German Chancellor Angela Merkel on Thursday.
At a joint press conference with visiting European Commission President Jose Manuel Barroso, Merkel said: "I will not allow Germany to participate in any speculation."
The chancellor seemed to have taken back a promise made by German Finance Minister Peer Steinbrueck on Wednesday that Germany will take actions to protect the eurozone if one of its 16 member states found itself unable to refinance its debt, Xinhua reported.
Meanwhile, Merkel said the eurozone is still strong now and has proven itself in this world economic crisis.
She also stressed the importance of looking beyond the current crisis and learning lessons from it.
At present, Germany has the best credit rating in the European Union, while some other eurozone countries like Ireland and Greece were trapped into bad credit rating as a result of the world economic crisis, according to a report of DPA.