Angela Merkel Dashes Greek Hopes of Rescue Bid
THE GUARDIAN: German chancellor refuses to rescue Greece's ailing economy amid Berlin's domestic austerity

Angela Merkel, the German chancellor, mounted stiff resistance tonight to any swift bailout of Greece, as a rift opened up between European capitals over how best to tackle the risks posed to the euro.

Despite a show of Franco-German unity on the crisis and the first statement from EU leaders pledging to safeguard the currency's stability, hopes on the markets of a German-led rescue plan to shore up Greece's critical public finances were dashed by Merkel, who repeatedly emphasised that Athens would need to put its own house in order and brushed aside all questions of financial support.

"Germany is stepping totally on the brakes on financial assistance," said a senior EU diplomat. "On legal grounds, on constitutional grounds and on principle." Another senior diplomat said of the Germans: "They're not waving their chequebooks." >>> Ian Traynor | Thursday, February 11, 2010

Britain Will 'Obviously' Join Euro Says Mandelson
Euros: Google Images
THE TELEGRAPH: Britain "obviously" remains committed to joining the euro following the currency's "success" in helping its members to weather the economic crisis, Lord Mandelson said.

The newly promoted First Secretary of State, speaking in Berlin, hailed the euro as a saviour that had brought stability to the European Union during financial turmoil.

"It is perfectly clear that the euro has been a great success in anchoring its eurozone members during this financial crisis," he said.

"Imagine where all of us would have been if it hadn't. I hope people will recognise that this represents a major vindication for the single currency."

Asked if the British Government would consider joining the euro, Lord Mandelson replied: "Does it remain an important objective for Britain to find itself in the same currency as that single market in which it interacts? Obviously yes."

He added: "That has to be a decision taken on the right terms in the right circumstances and conditions and therefore at a future time than we have now." >>> By Bruno Waterfield in Brussels | Thursday, June 11, 2009