“German Chancellor Angela Merkel rejected suggestions on Friday that the worst was over for the euro zone, saying the currency bloc faced years of painful reforms, slow growth and high unemployment.
Speaking to reporters at the end of a two-day summit of EU leaders in Brussels, Merkel hailed agreements on banking supervision and the release of aid to Greece, but was cautious about predicting better times ahead.
“One reason I am careful with my forecasts is the adjustment process, the changes that we are going through are very difficult and painful,” Merkel said.”
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