Merkel Looks To Bolster Confidence

    BERLIN, GERMANY - JUNE 04:  In this photo provided by the German Government Press Office (BPA), German Chancellor Angela Merkel (L) speaks with EU Commissioner Jose Manuel Barroso at the Chancellery on June 1, 2012 in Berlin, Germany. Barosso and Merkel are due to hold talks focusing on bank recapitalization and responses to the sovereign debt crisis and other EU topics. (Photo by Guido Bergmann/Bundesregierung-Pool via Getty Images)

    Guido Bergmann / Bundesregierung via Getty Images

    Europe is ready to stabilize the euro zone, says German Chancellor Angela Merkel. Now that it looks like Spain may be in dire need of help from the EU to bolster its banks, Merkel is attempting to inject some calm into the situation. “It is important to stress again that we have created the instruments for support in the euro zone and that Germany is ready to use these instruments whenever it may prove necessary,” she said. Spain’s credit rating dropped three notches on Thursday.

    Read it at Reuters