Merkel: Europe will need a decade to get past the sovereign debt crisis

Europe will most likely need a decade to get over the sovereign debt crisis, and solving this crisis will take lots of efforts, said German Chancellor Angela Merkel (in picture) after the G20 meeting that took place last week in Cannes. 'The deficit crisis will not be solved at once, we will surely need a decade to go back to a better position,' said Merkel. She has asked all the countries in the euro zone to introduce deficit thresholds required by law. The G20 summit took place in Cannes last week, while Greece accepted the terms of the bailout offered by the EU and Italy accepted to be monitored by the International Monetary Fund (IMF). editor@romania-insider.com