Merkel: Europe has to move quickly after the cut Categories
1/14/2012 | (Voice of Iraq) - Add comments - BERLIN (Reuters) German Chancellor Angela Merkel said on Saturday that the Standard & Poor's cut credit ratings for countries in the euro zone highlights the need to expedite the completion of an agreement to tighten financial rules and activate the rescue Permanent Fund as soon soon as possible. she said during a political meeting in the northern city of Kiel "We now challenge the application of the financial agreement faster ... and we do not decisively to try to ease it. "We will also, in particular the application of the permanent stability mechanism - the mechanism of the European stability - as soon as can .. This is important for investor confidence. " The Standard & Poor's may cut on Friday, the credit ratings of nine countries in the European Union seven years. and kept Germany ranked them excellent, but both France and Austria lost its classification. and the Merkel said the move to Standard & Poor's were not surprising. The "It's one of the three rating agencies .. We take it into account. Not surprised at all in light of the discussions last week. " With regard to the rescue fund current - Fund financial stability of Europe - Merkel said the downgrade will not affect its activity. and said, "the necessary tasks that must be on a rescue fund to do in the coming months, I strongly believe that it can be means to achieve the current. "interest rates necessary to accept certain bonds already risen somewhat in any case .. the Fund's work would not be blown up. I see no need to change anything with regard to the European Financial Stability Fund."