GERMANY: Chancellor Angela Merkel does not expect global economy to be hurt significantly by catastrophe in Japan, she tells parliament

Record ID: 463554

  • Title: GERMANY: Chancellor Angela Merkel does not expect global economy to be hurt significantly by catastrophe in Japan, she tells parliament
  • Date: 18th March 2011
  • Summary: BERLIN, GERMANY (MARCH 17, 2011) (REUTERS) APPLAUSE
  • Embargoed: 2nd April 2011 13:00
  • Keywords:
  • Location: Germany, Germany
  • Country: Germany
  • Topics: International Relations,Disasters / Accidents / Natural catastrophes
  • Reuters ID: LVA1CRXD88UZKQQIRX88LHIK7XV9
  • Story Text: Japan is the world's third largest economy and the negative impact on the global economy will only be limited, German Chancellor Angela Merkel told parliament during a government declaration on Thursday (March 17).
    "We will work in cooperation with our international partners how possible consequences of the catastrophe on the global economy can be minimised as much as possible," Merkel said.
    The chancellor assured the "people of Japan" that following the massive earthquake, Germany would stand by Japan.
    "Our thoughts and prayers are with the people of Japan," Merkel said to applause.
    The chancellor reiterated her calls for a Europe-wide "stress test" for nuclear plants, saying "security risks do not only affect the country the nuclear plant is in."
    Merkel also said she would present a clear timeline for a faster shift in policy towards renewable energy sources in light of the Japanese nuclear crisis.
    The centre-right chancellor said she was working with French President Nicolas Sarkozy on initiatives for safer nuclear power in the G20 and said the problem of storing nuclear waste could not be left to future generations, but had to be dealt with now.
    The chancellor, who this week introduced a 3-month moratorium and backtracked on an unpopular decision last year to extend the life of aging nuclear plants, said nuclear power remained a "bridge" source of affordable energy while renewable energy sources were developed further.
    Social Democrat (SPD) leader Sigmar Gabriel accused Merkel of closed door deals with "the nuclear industry" last year.
    "You only involved the Bundestag (lower house of parliament) pro forma and the Bundesrat (upper house) not at all. You had already arranged everything with the gentlemen from the nuclear industry," Gabriel told deputies.
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