Speaking on the eve of an EU Summit, Merkel added however that European leaders are
determined to take steps to ensure the continued strength of their single currency.
Speaking at the Elysee Palace in Paris ahead of a working dinner with Merkel, French President Francois Hollande also said both France and Germany wanted to deepen their monetary union.
Merkel cautioned that the situation in Europe was serious and markets were expecting a Europe that functions.
Merkel finds he rself in a dwindling minority in her approach to the EU crisis, backed only by the Netherlands and Finland, but she holds the euro zone’s purse strings and therefore nearly all the cards.