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Europe Lacks Structures To Make Euro Work Properly, Merkel Says

Europe does not now have the "political structures" to make the euro work properly, German Chancellor Angela Merkel told world leaders today.

At the World Economic Forum in Davos, Switzerland, The Associated Press reports, "she said the weaknesses 'arose over years — so they can't be overcome at one fell swoop.' "

But, Merkel added, "we are determined to do this."

The German leader "did not immediately elaborate on how that would happen," the AP adds. Bloomberg News reports she also said European governments are determined to get their budgets and debts under control.

Her appearance is being streamed here.

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