Merkel says situation in Europe is serious

BERLIN, May 8 (BestGrowthStock) – Europe faces a serious situation
with Greece not the only country subject to financial market
pressures, German Chancellor Angela Merkel said on Saturday.

“It is a serious situation,” she told reporters in Berlin
after meeting Canadian Prime Minister Stephen Harper.

“If you looked at the spreads from Friday or Thursday, you
see we are facing a development that is not good in several
countries, not just one country,” she added.

Merkel said euro zone leaders made the right decisions on
Friday, when they agreed to have special measures ready before
financial markets open on Monday to prevent financial turmoil in
Greece spreading to other countries such as Spain and Portugal.
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Merkel says situation in Europe is serious