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Germany's Merkel wants treaty rewrite to fix euro

Bank. Bank President Mario Draghi on Thursday appeared to dangle such an offer if political leaders at the Dec. 9 summit can come together on the kinds of spending Nike Roshe Gray And Peach

BERLIN German Chancellor Angela Merkel pushed forward Friday with what markets see as an emerging plan for more effective action to contain the European financial crisis, urging tougher rules against government overspending. She said next week's European Union summit would take up ways to enforce compliance and write those changes into EU treaties a drawn out process. "The European crisis will not be solved in one fell swoop," Merkel said. "It's a process, and this process will take years." The push by Merkel on debt rules a day after French President Nicolas Sarkozy made the same case is being seen as one half of a fresh approach by European leaders to finally get a grip on the crisis more than two years Nike Roshe Id Yeezy

after it started in Greece. The other half could be more short term help for heavily indebted governments from the European Central Nike Roshe One White And Black

rules that Merkel and Sarkozy are advocating. "Other elements might follow," Draghi said, fueling speculation that the bank could step up its so far limited program to buy government bonds issued by struggling countries such as Italy and Spain. The program helps keep their borrowing costs down. Draghi stressed the bond buys "can only be limited." That has left analysts speculating he might have other forms of support in mind. Those could include extending credit Roshe One Flyknit Premium to banks that are having trouble borrowing money from each other because of market fears they may suffer losses on government bonds they hold. Banks borrow vast sums of money from each other on a daily basis to fund their operations.