MERKEL BLASTS BANKS

The German Chancellor, Angela Merkel, has strongly criticized the activities of merchant and investment banks yesterday. Saying it was "scandalous" that they could contribute to the deficit of Greece, then help to mask it and thus provoke a crisis in the entire euro area. And she recalled that Germany expected significant efforts from the Greeks to reduce their deficit.

"It is a scandal if it turns out that banks which have already led to the brink, has also participated in the falsification of statistics Greek budget," said Merkel in a speech in the political land (regional state) of Mecklenburg-Vorpommern (East). And she stressed the need for all countries in the euro area to calculate their budget the same way to avoid destabilization of the common European currency.

 Several newspapers have accused the bank Goldman Sachs have enabled the Greek State to disguise the reality of its debt. Merkel also defended the euro, arguing that Germany would had "experienced more turbulence" during the economic crisis last year if it had not adopted the common currency. "Greece must now make substantial savings and I am glad that the Prime Minister of Greece, in agreement with the European Central Bank and the European Commission is working on," she added