BERLIN Nov 18 Here are key quotes from a
news conference in Berlin with British Prime Minister David
Cameron and German Chancellor Angela Merkel:
MERKEL ON WINNING BACK CREDIBILITY:
"I believe that one can win back credibility when one uses
the powers at one's disposal.
"The British demand that we use a large amount of firepower
to win back credibility for the euro zone is right. But we have
to take care that we don't pretend to have powers we don't have.
Because the markets will figure out very quickly that this won't
MERKEL ON DOUBTS ABOUT GERMAN-BRITISH RELATIONS
"This press conference is the answer to the question raised
by a major German newspaper.
"I mean that in all seriousness because Great Britain was
always a motor for more competitiveness, for openness in
research, for completing the Doha round. We weren't always able
to push everything through. It's clear that we have a lot of
work on that issue.
"But the common conviction about how Europe can be
successful, how we can maintain our prosperity, these common
convictions are clearly in the forefront.
"Naturally there are differences. But Europe can only
prevail if all the strong countries of the European continent
are represented. And if we have a bit of tolerance for the
different views, that we always have the strength in Europe to
build such bridges even if there are different opinions on some
issue. All I can say is that whenever David and I worked
together on a problem we found a solution."
MERKEL ON FINANCIAL TRANSACTION TAX:
"On a purely European level, no progress has been made.
Therefore we must work where there is a common view that it
should be done. We are united in saying a global financial
transaction tax would be introduced by both countries
immediately but we did not make any progress on having such a
tax just in Europe."
CAMERON ON FINANCIAL TRANSACTION TAX:
"The danger, we've always believed, is driving transactions
to jurisdictions where this wouldn't be applied, so a global tax
is a good thing.
"In Britain we have a bank levy so we believe we are asking
financial services to make a fair and proper contribution to
paying down our deficit and debt."
MERKEL ON EUROPE HOLDING TOGETHER
"There is great excitement everywhere at the moment about
whether we in Europe are really holding together. I can tell you
very plainly. We are holding together, we have held together and
we will hold together. Because we know that in a world of 7
billion people, Europe has no other chance.
"When one has lost credibility, and the euro zone has lost
credibility, it must work step by step to regain this
credibility, and then one must bring into effect those things
which have been agreed."
CAMERON ON STABILISING EURO:
"My German isn't that good, I think a 'bazooka' is a
'Superwaffe', am I right? The chancellor and I would agree that
whatever you call this we need to take decisive action to help
stabilise the euro zone and that has to consist of the things
that we have spoken about: decisive action on Greece, a European
Financial Stability Facility that is with detail and meaning and
power and punch behind it, and also the recapitalisation of the
"We also agree that a strong, successful and sustainable
euro is in all our interests. We need this crisis to be
resolved. Britain, like Germany, has a big national interest in
the crisis being resolved."
"We need to take decisive action to help stabilise the euro
zone. And that has to consist of the things that we have spoken
about; decisive action on Greece, a European financial Stability
Facility that is with detail and meaning and power and punch
behind it and also the recapitalisation of the banks."
"I very much agree with what Angela has been saying, that a
long-term solution to this problem also has to involve proper
rules for fiscal discipline in European countries so that we
can't create this mess again."