Merkel vows to do utmost for stable euro

09:47, May 27, 2010      

Email | Print | Subscribe | Comments | Forum 

German Chancellor Angela Merkel, currently visiting the Saudi Red Sea port of Jeddah, vowed on Wednesday that her country will leave no stone unturned to stabilize the euro, official Saudi SPA news agency reported.

Addressing a gathering of Saudi businessmen at Jeddah Chamber of Commerce and Industry, Merkel said Germany will do all it can do to support the currency.

"Germany, the largest economy in the European Union, has strongly profited from the euro, and therefore, we will do our utmost to stabilize it," Merkel said, as reported by the Saudi agency.

The German leader also called for supporting the inter-European trade and not for aligning on the side of Europe's weakest economies.

"We still struggle with the repercussions of the international financial crisis, and we should bear the responsibility to curb the impacts of this crunch in the future," she said.

The euro lost 7 percent this year, while the dollar rose more than 10 percent.

Merkel also said she is seeking more cooperation with Saudi Arabia, voicing hope that the German firms would enjoy facilitations to access to the Saudi market.

"We consider the investment opportunities available in the kingdom. We do not like to focus only on oil, as Germany can pump investments in other several domains, like the railways, renewable energy and others," she said.

Merkel also pledged she will personally work to overcome obstacles to trade pacts between the European Union and the six- nation Gulf Cooperation Council.

The German chancellor arrived in Jeddah on Tuesday from Abu Dhabi on the second stop of a four-state tour in the Gulf region. She held talks with Saudi King Abdullah bin Abulaziz on means to revive the Middle East peace process, regional security and the nuclear standoff with Iran, according to local Arab News newspaper.

Also on Tuesday, Merkel visited King Abdullah University of Science and Technology, the first academic institution where male and female students study together.

Merkel will also visit Qatar and Bahrain, where she will meet with heads of state and government.

Source: Xinhua

(Editor:张茜)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
  • An Indian artist colours clay idols of Goddess Durga for the upcoming Durga Puja festival in Calcutta, capital of eastern Indian state West Bengal on Sept. 27, 2011. The festival celebrates the homecoming of Mother Goddess Durga and the victory of good over evil, dramatized by the goddess' demolition of the evil buffalo demon, Mahishasura. (Xinhua/Tumpa Mondal)
  • A model presents a creation of new upcoming designer Sergei Grinko at the Milan Fashion Week Women's Wear Spring/Summer 2012 in Milan, northern Italy, Sept. 27, 2011. The Milan fashion week closed on Tuesday. (Xinhua/Wang Qingqin)
  • Yu Guangyao (2nd R), president of Shanghai Shentong Metro Co., Ltd, bows his apology at a press conference on the subway trains collision accident happened Tuesday afternoon, in east China's Shanghai Municipality, Sept. 27, 2011. By 8:30 p.m. (1230 GMT) Tuesday, a total of 271 injured people in the accident have received medical treatment in hospitals, among them 180 have been dispatched. Other 61 injured people are still in hospital, in which 30 are under emergency observations. No critical injuries have been reported. (Xinhua/Chen Fei)
  • Children visit the Confucian temple in Tainan, southeast China's Taiwan, Sept. 27, 2011. A ceremony will be held at the temple to commemorate Confucius (551-479 BC) on Sept. 28, the birthday of the ancient Chinese thinker and educationist and the annual Teacher's Day of Taiwan in honor of him. (Xinhua/Ren Zhenglai)
Hot Forum Discussion