BERLIN (Reuters) - Chancellor Angela Merkel said on Wednesday Germany was ready to put up more money for the European Union budget but could not accept a mutualisation of debt without gains in competitiveness.
"We have made clear in our coalition agreement that we are ready to provide more money for the EU budget," Merkel told broadcaster ZDF.
"But what is not on is to confuse liability and responsibility, or to simply mutualise debts without becoming competitive," she said, suggesting that countries' debts could be mutualised at some point if other EU states improve their competitiveness.