German Chancellor Angela Merkel on Friday told her country?s Parliament that solving a broadening eurozone debt crisis would take years, likening the effort to a marathon and said that the ?sacrifices? made by Greeks, Spaniards and Portuguese demanded respect.
?We respect the sacrifices that have been made by citizens in Spain, Portugal and especially in Greece,? Merkel told German lawmakers, referring to austerity programs that have been imposed in the three debt-ridden countries. But she noted that «more must be done.»
Speaking ahead of a European Union summit on December 9 where she, and French President Nicolas Sarkozy, are expected to propose changes to EU treaties, Merkel said that there ?not quick remedies? for resolving the major crisis threatening the eurozone but that the summit would allow EU leaders to set out the guidelines.
?Resolving the sovereign debt crisis is a process, and this process will take years,? Merkel said. She added that marathon runners note that their job becomes tougher ?around the 35 kilometer mark,? she said. ?But they also say that you can get to the finish if you are conscious of the magnitude of the task from the very start.?