Investing
German Chancellor Merkel Calls for Patience
December 31, 2012 9:57 am
Last Updated: April 27, 2020 10:03 pm
The BBC cites Merkel:
I know that many people are naturally concerned going into the new year. The economic environment will not in fact be easier but rather more difficult next year. But we shouldn’t let that get us down; rather it should spur us on.The reforms that we’ve introduced are beginning to have an impact. Nevertheless we need to have further continued patience. The crisis is far from over.
It could be that both Merkel and Schaeuble are right. The crisis, for Germans, likely will get worse next year as the country’s economy slows down even further.
In the eurozone, though, Schaeuble could be right when he says that the worst is over, pointing to the recent bailout funds sent to Greece and some improvement in the French economy.
Germany’s central bank has cautioned that the country may even brush up against a recession in 2013.
Paul Ausick
Sponsored: Find a Qualified Financial Advisor:
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.