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Merkel is not budging on calls to allow Spanish banks access to eurozone's bail-out fund (Photo: PeterXIII)

Merkel: eurozone needs more EU supervision

German Chancellor Angela Merkel on Monday (4 June) said she supports more integration in the eurozone - a veiled reference to pooling debt provided EU institutions gain more supervisory powers.

"We need more Europe, not less, especially in the eurozone. This means that EU institutions, the EU commission included, should be granted more possibilities to control. Otherwise it would be impossible for a currency union to work," Merkel said alongside EU commission chief Jose Manuel Barroso...

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Merkel is not budging on calls to allow Spanish banks access to eurozone's bail-out fund (Photo: PeterXIII)

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