Wednesday, May 1, 2013

Merkel urges Letta to continue fiscal austerity

Italy's prime minister Enrico Letta and German Chancellor Angela Merkel have agreed to cooperate to resolve the European debt crisis. Merkel has pressed Letta to continue fiscal austerity in Italy.Letta visited Berlin on Tuesday on his first overseas trip since assuming office amid political chaos after a parliamentary election in February.

Letta and Merkel held a joint news conference before their meeting. Letta stressed his focus on coordination with Germany, saying Europe is good whenever the country and Italy work together.Letta reiterated his intention to overhaul .

Italy's belt-tightening approach and push measures aimed at spurring economic growth.He said Europe must pursue growth policies as strongly as fiscal rehabilitation

Merkel congratulated Letta on his inauguration, adding that budget consolidation and growth are not in opposition and must develop together

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