Gulf states back efforts to stabilise euro -Merkel

ABU DHABI, May 25 (BestGrowthStock) – 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.

Stock Analysis
(Reporting by Andreas Rinke; Writing by Dave Graham; Editing
by Jan Dahinten)

Gulf states back efforts to stabilise euro -Merkel