"Angela Merkel underlined the gulf at the heart of the eurozone when she waded into interest-rate policy, arguing that, taken in isolation, Germany would need higher rates, in contrast to southern states which are crying out for looser monetary policy. The German chancellor’s highly unusual intervention on Thursday, a week before many economists expect the independent European Central Bank to cut its main interest rate, highlights how the economies of the prosperous north and austerity-hit south remain far apart."
Michael Steen, James Wilson e Peter Ehrlich, "Merkel speech highlights European divide" (Financial Times [online], 25.4.2013).
