Merkel: If the Euro fails, Europe falls

German Chancellor Angela Merkel's dire warning ahead of crunch EU debt crisis summit

German Chancellor Angela Merkel today warned that the failure of the euro would lead to the fall of Europe as she outlined a plan to bail out Greece's stricken economy.

European leaders should agree to a deal that will result in a write-down of half of Greece's huge national debt, she told the German Parliament.

Merkel said she sees no 'better alternative' to the efforts being made to protect the euro and added: 'If the euro fails, Europe fails.'

Speaking of the magnitude of the debt problems facing Europe, she said: 'The world is looking at Germany, whether we are strong enough to accept responsibility for the biggest crisis since World War Two.'

Read more: Daily Mail

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