Eurozone Crisis: Angela Merkel Warns Peace And Prosperity At Risk
Angela Merkel has warned that Europe could "fail" if the region's leaders are unable to agree on a deal to solve the eurozone debt crisis.
In a speech to the German parliament on Wednesday morning, the chancellor said: "If the euro fails, Europe fails".
"No one should think that a further half century of peace and prosperity is assured. It isn't. And that's why I say if the euro fails, Europe will fail, and that mustn't happen."
Speaking before a vote in the parliament on measures to help contain the crisis she said: "The world is looking at Germany, whether we are strong enough to accept responsibility for the biggest crisis since World War Two."
"We need to come to concrete solutions with regard to countries that are very much in debt. We have to tackle the mistakes made in the past so that the crisis will not develop. We need to consider the future."
Earlier a Number 10 spokesperson said there were "no illusions" about the difficulties in solving the euro debt crisis, adding that there would probably be "further meetings".
The pressure is getting to eurozone leaders as Wednesday afternoon's summit in Brussels approaches - with a fist fighting breaking out between Italian deputies in parliament.