Germany's persistent policies to push down wages have harmed fellow Euro zone member countries and contributed to the bloc's current debt crisis, the International Labor Organization (ILO) said in Geneva.
Billionaire investor George Soros said that German-driven austerity plans in Europe risk creating tensions that could splinter the region as it struggles with a debt crisis entering its third year.
German Chancellor Angela Merkel appealed to business leaders at the World Economic Forum to give policy makers the space they need to tackle the debt crisis, pledging that Europe will pull together and restore confidence.
Ratings downgrades in the Euro zone by S&P underline why Europe must seal a pact to tighten fiscal rules quickly and get its permanent bailout fund up and running as soon as possible, German Chancellor Angela Merkel said on Saturday.
German unemployment fell to its lowest rate in December since 1991, according to the German Federal Labour Agency.
German Chancellor Angela Merkel and French President Nicholas Sarkozy have said they will meet next week to discuss the Euro zone debt crisis. Their first meeting of 2012 comes after all EU countries except the UK agreed to work together on a new treaty to stabilise the Euro zone.
Europe must cooperate more closely if it wants the Euro to succeed as its shared currency, and it still has a long way to go to overcome its sovereign debt crisis, German Chancellor Angela Merkel said in her New Year's Eve address.
German Finance Minister Wolfgang Schaeuble said agreements reached at an EU summit this week will solve the Euro zone's debt crisis and that Germany needs a strong Europe.
“Uruguay must act like the kids begging in the corners and traffic light crossings, asking for a dime from whoever” said President Jose Pepe Mujica on recalling the importance of funds from what ever origin to sponsor and promote scientific research.
German Finance Minister Wolfgang Schaeuble said Standard & Poor’s downgrade warning for 15 Euro- area governments will spur European leaders to double efforts to resolve the debt crisis at the Dec. 8-9 summit.