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Gulf States back Efforts to Stabilise Euro -Merkel - ASHARQ AL-AWSAT English Archive
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ABU DHABI, (Reuters) – The Gulf Arab states support European efforts to stabilise the euro, German Chancellor Angela Merkel said on Tuesday.

“There’s interest in having a strong Europe, but it’s clear we need to work on our competitiveness. And this is exactly the German position too,” Merkel said in Abu Dhabi after meeting leaders of the United Arab Emirates on a visit to the Gulf.

Asked whether the European single currency could remain a model for efforts among Gulf nations to create their own joint currency, Merkel said: “Yes, of course,” adding that the subject had played a prominent part in her talks. In recent weeks, the euro has been hit by investor concerns about debt in a number of euro zone states.

“It’s understood here very well that a region like the European Union, which shares a currency, also needs to try to create a shared basis for economic performance,” she said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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