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Merkel says 'big rethink needed' | |
(about 3 hours later) | |
Germany's Chancellor Angela Merkel has told the World Economic Forum that a "big rethink" is needed in the eurozone within the global economy. | |
"Structural reforms that lead to more jobs are essential," she told delegates at the Swiss resort of Davos. | |
The eurozone is still struggling with a sovereign debt crisis and is trying to agree reform to its political system. | |
But many want Germany and other nations to boost the size of their rescue fund. | |
The IMF wants the eurozone to inject more cash into its rescue fund. | The IMF wants the eurozone to inject more cash into its rescue fund. |
The International Monetary Fund wants the sum available for bailouts to grow beyond 500bn euros ($647bn; £416bn) to ensure talks between private creditors and Greece do not grind to a halt. | The International Monetary Fund wants the sum available for bailouts to grow beyond 500bn euros ($647bn; £416bn) to ensure talks between private creditors and Greece do not grind to a halt. |
The future of the world economy is high on the agenda as some of world's most powerful people gather in Davos. | |
They meet annually in the Swiss resort to discuss the state of the world. | |