Hard to swallow Merkel's sweetener

Under the threat of some countries refusing to accept bitter new austerity measures, Angela Merkel may agree to boost Europe's rescue fund. But will this be enough?

German Chancellor Angela Merkel appears to have reluctantly decided to sugar-coat the bitter medicine she’s forcing debt-laden countries to swallow by offering to increase the size of the eurozone’s emergency rescue fund.

Last month, all 17 eurozone countries signed up for tough new budget rules dictated by Berlin which for most countries will require major cuts in government spending along with tax hikes if they are to meet the new deficit and debt limits.


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