News Summary: Germany resists quick euro fixes
NO QUICK FIXES: German Chancellor Angela Merkel vowed Friday to resist pressure for quick fixes to the European crisis when she meets world leaders at the Group of 20 summit next week. She also says that fueling growth by running up more government debt isn't the answer.
PREFERRED APPROACH: Merkel says Europe must tackle its problems "at the roots" by lowering debt and increasing economic competitiveness.
RIVAL PATH: French President Francois Hollande advocates jointly issued government eurobonds — a move that would likely lower the borrowing costs of struggling eurozone countries but increase those of financially solid countries such as Germany. Berlin has resisted that idea.
