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Angela Merkel alarmed by worsening credit crisis

Submitted by marc on Tue, 01/12/2009 - 15:40

"We are in a very critical situation," said Chancellor Angela Merkel in her weekly radio address. "We are going to discuss with leaders of the financial institutions what can be done to head off a credit crunch."

The German government is rushing through a fresh package of measures to shore up ailing banks and prevent a second wave of the debt crisis suffocating large parts of manufacturing industry.

Source(s): 
Telegraph

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