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1/26/2012

Merkel says 'big rethink needed'

Germany's Chancellor Angela Merkel has told the World Economic Forum that a "big rethink" is needed in the eurozone within the global economy.


"Structural reforms that lead to more jobs are essential," she told delegates at the Swiss resort of Davos.

The eurozone is still struggling with a sovereign debt crisis and is trying to agree reform to its political system.

But many want Germany and other nations to boost the size of their rescue fund.

The IMF wants the eurozone to inject more cash into its rescue fund.

The International Monetary Fund wants the sum available for bailouts to grow beyond 500bn euros ($647bn; £416bn) to ensure talks between private creditors and Greece do not grind to a halt.

The future of the world economy is high on the agenda as some of world's most powerful people gather in Davos.

They meet annually in the Swiss resort to discuss the state of the world.

bbc.co.uk

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