Brussels, 14/06/2012 (Agence Europe) - Addressing the German parliament on Thursday 14 June, German Chancellor Angela Merkel rejected the idea of a short-term miracle to put an end to the sovereign debt crisis in the eurozone, saying that a Herculean task lies ahead with the introduction of political and banking union in the eurozone. Germany wants any new solidarity to be accompanied by a transfer of powers from the nation state to the EU.
The chancellor said she wanted the ECB to have...