Photo Essay: Commitment to Fiscal Discipline and Strengthening the Euro
Throughout the current sovereign debt crisis, political and economic leaders in Germany and Europe have been steadfast in their commitment to fiscal discipline and to strengthening the euro. Click on the first photo to begin this photo essay on their recent statements.
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“Nobody is denying that we need sustainable growth. That is why adjustment programmes have been put in place for Ireland, Portugal and Greece. You can’t generate sustainable growth by running even greater deficits to tackle high debts. The only way to achieve sustainable growth is to make your economy competitive.” Finance Minister Schäuble in an interview with Handelsblatt on June 5, 2012 (© picture alliance / Sven Simon) -
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“In Europe we have by now set up a resilient system with debt brakes, financial policy controls and economic growth stimuli. It must now be implemented. I am convinced that the euro can even then remain one of the most stable currencies in the world.” Economics Minister Philipp Rösler on June 17, 2012 in Bild am Sonntag (© picture alliance / dpa) -
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“Eurobonds violate the applicable laws and reduce the necessary pressure for reform in our partner countries. Europe needs exactly the opposite: only with structural reforms will we achieve growth.” Economics Minister Rösler on May 25, 2012 (© picture alliance / dpa) -
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"With this combination of solid finances and growth impulses, we want to make clear that we are not only obligated to the maintenance and the stabilization of the euro, rather that we also want a strong, a modern, a competitive Europe.” Chancellor Angela Merkel on January 9, 2012 (© picture alliance / dpa) -
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"It is an ambitious, but achievable goal to strengthen the euro as our currency." Chancellor Merkel on January 9, 2012 (© Bundesregierung / Jesco Denzel) -
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“The future of Germany is inextricably linked to the future of Europe.” | “The Euro is much, much more than a currency. The Euro is the guarantor of a united Europe.” Chancellor Merkel on September 7, 2011 (© picture alliance / abaca) -
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"Yes, we need short-term crisis management. But we should not opt for measures that would lay the ground for an even bigger crisis in years to come. And most importantly: our short-term measures will only be credible and effective if we address the root causes at the same time." Foreign Minister Westerwelle on January 20, 2012 (© picture alliance / dpa) -
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"There is no good future for Germany without a good future for a united Europe. While there are undoubtedly differences in opinion among German political parties on the details of crisis management, there is a broad consensus that the answer to the current crisis has to be ‘more Europe’, not ‘less Europe’. Germany is and remains deeply and firmly committed to a united Europe." Foreign Minister Westerwelle on January 20, 2012 (© Thomas Imo/photothek.net) -
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"Our single currency is a project whose importance for Europe cannot be overestimated. The euro is respected across the world, despite the current tribulations, its importance as an international reserve currency is continuing to grow." Foreign Minister Westerwelle on November 29, 2011 (© picture alliance / dpa) -
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"In the euro zone, we will regain the trust we have lost only through steady policies. In other words, we can’t make new decisions every other day. Rather, we proceed step by step. And it isn’t that unsuccessful." Finance Minister Wolfgang Schäuble on January 30, 2012 (© picture alliance /dpa ) -
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“I believe that in the next twelve month we will have achieved, that the threat of contagion is banished and the eurozone stabilized.” | “We now have the prospect of a real union of stability.” Finance Minister Wolfgang Schäuble on December 30, 2011 (© picture alliance / dpa) -
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“If we get through this crisis and make the right decisions now—and I am confident we will—then the euro will emerge as the world’s stable currency.” Finance Minister Schäuble on November 27, 2011 (© picture alliance / dpa)