Europe elections: German Chancellor Angela Merkel welcomes Francois Hollande but warns Greece

But the German Chancellor insisted that the EU’s fiscal compact, the bail-out
plan that Prime Minister David Cameron initially vetoed last winter, would
not be up for renegotiation.

“We in Germany are of the opinion, and so am I personally, that the
fiscal pact is not negotiable. It has been negotiated and has been signed by
25 countries,” Merkel said.

In terms of Europe’s financial ills, Ms Merkel also had strong words for
Greece after voters in the country appeared to reject European
Union/IMF-backed austerity measures by punishing the two main parties in
favour of the bail-out and delivering a hung parliament.

“The election result in Greece is somewhat complicated. But the most
important thing now is for Greece to evaluate the result themselves. They
will discuss how to progress.

“And of course it is of greatest importance that the programmes already
agreed upon with Greece will continue, that the path Greece went, which
might be burdensome but it has to be continued.

“But now is the time that Greece themselves has to evaluate the results
of the election.”

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