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Germany says no quick fix to Europe debt crisis ** *PIC*

Germany says no quick fix to Europe debt crisis (by William L. Watts)

FRANKFURT (MarketWatch) -- A spokesman for German Chancellor Angela Merkel on Monday warned investors not to expect this weekend's summit meeting of European leaders to provide a comprehensive fix to the region's long-running sovereign debt woes. "The chancellor has pointed out that dreams building up that this package will mean everything will be solved and over by [next] Monday cannot be fulfilled," spokesman Steffen Seibert told reporters, according to Reuters. Seibert said leaders are working on a "long path" that could reach "far into next year and on which more steps will follow." Strategists said the remarks helped dampen a rally by European equities and U.S. stock index futures.