“Germany is standing pat in Europe’s debt crisis, rejecting calls from allies and investors to do more to counter market turmoil, said Michael Meister, a senior lawmaker in Chancellor Angela Merkel’s coalition.
“We don’t have any new bazooka to pull out of the bag,” Meister, the Christian Democratic bloc’s finance spokesman and deputy leader in parliament, said in Berlin today. “We see no alternative to the policy we are following,” which calls for budget cuts and keeping the European Central Bank from becoming a lender of last resort, he said in a telephone interview.”
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