Merkel says solidarity, stability "inseparable" for eurozone: report

PARIS, May 18 (Xinhua) -- The solidarity and stability of the eurozone are inseparable, and "the eurozone was not a union for fund transfer," German Chancellor Angela Merkel said in an interview published on Tuesday by leading French newspaper Le Monde.

"Financial stability is very important for the eurozone in facing the present crisis. To Germany, stability is non-negotiable, its importance is equivalent to the independence of European Central Bank," Merkel said in a joint interview with newspapers of three nations, also including Spain's El Pais and Italy's Corriere della Serra.

Merkel stressed it was necessary to tackle the problems from its origin regarding the euro currency crisis. The participation of the International Monetary Fund (IMF), the strict austerity measures formulated by Greece, and the solidarity among euro countries were three "inseparable" elements to solve the Greek financial crisis.

She called for the eurozone members to enhance their financial situations, and strictly follow the European Union's regulation of the Stability and Growth Pact.

The global financial crisis has not yet come to an end as all countries are working to solve the negative impacts caused by the crisis, she said, adding that there are still huge differences among the European economies, so it is necessary to strengthen respective competitiveness while dealing with the crisis.

Suggesting EU leaders discuss the issue of sustainable growth during the summit this June, she stressed the EU's need to sharpen economies' competitiveness and formulate and implement growth strategy.

"We must enhance our ability to face the future, we must make greater efforts in research, invention patents and exportation," she pointed out.

As to stricter financial surveillance, Merkel said it is an imperative issue and promised more pressure to be exerted by Germany along with France. Europe must first enhance the standards of its financial markets, then it has to increase the control on the international credit rating organizations, she said.

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