Germany's Merkel: Closer union to fix euro crisis *PIC*

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Germany's Merkel: Closer union to fix euro crisis (by MarketWatch)

FRANKFURT (MarketWatch) -- German Chancellor Angela Merkel on Monday told members of her center-right Christian Democratic Union party that it was time to create a "new Europe" by completing political union, Bloomberg reported. Merkel said automatic sanctions were also needed to punish countries that violate rules governing deficit and debt levels, Reuters reported, and repeated a call for a tax on financial market transactions, bank levies and bans on short sales. Merkel also repeated Germany's rejection of calls for euro-zone countries to jointly issue government bonds, Bloomberg reported.

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Germany's Merkel: Closer union to fix euro crisis *PIC*

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