- German Chancellor Merkel said that Europe needs structural political reforms if it is to resolve its crisis
- Merkel called on the G20 to pursue the agenda for growth and employment set out by current chair, Mexico
- To tap the energy and ideas of young leaders under 30, the Forum brings 70 Global Shapers to Davos
- The theme of the 42nd World Economic Forum Annual Meeting is The Great Transformation: Shaping New Models.
Davos-Klosters, Switzerland, 25 January 2012 – Europe needs to move forward with structural political reforms if it is to resolve its sovereign debt crisis and put to rest doubts about its unity and viability, German Chancellor Angela Merkel said in an address to participants in the opening plenary session of the World Economic Forum’s 42nd Annual Meeting. At the core of the crisis are weaknesses in the competitiveness of many European countries, she remarked, noting that deficits have accrued over the years. “There is a clear lack of political structures and underpinnings to make this work,” Merkel acknowledged. “We are not going to become faint of heart. But we will not be able to wave a magic wand to address this. Yet at some point in time we have to do something about these weaknesses.” Concluded the German leader: “The question is: Do we dare to have more ‘Europe’? In the year 2012, yes, we do dare.”
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