German Chancellor Angela Merkel
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Angela Merkel: Debt reduction is 'golden rule'

German Chancellor Angela Merkel has said that sovereign debt reduction must be Europe's "golden rule".

Speaking at a joint news conference, Chancellor Merkel and French President Nicolas Sarkozy urged much closer economic and fiscal policy in the eurozone.

They also advocated a tax on financial transactions to raise more revenues.

  • 16 Aug 2011
  • From the section Europe
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