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Eurozone success important to NZ - Key

Published: 6:19PM Saturday June 09, 2012 Source: ONE News

The Prime Minister says a successful outcome in the eurozone crisis is vital because of the impact it has on New Zealand.
Today, John Key was welcomed to trade talks with German Chancellor Angela Merkel in Berlin with full military honours, including troops and a marching band.

The main focus of the talks between the two leaders was the crisis in the eurozone, and the looming bailout of the Spanish banks.
The Chancellor has been put on the spot by world leaders who think Germany needs to guarantee the debts of struggling European countries to forestall another crisis.
"It is quite important to talk to leading politicians from all over the world and also explain Europe staying the course, wishing to pursue a course which takes it out of this crisis," Merkel said.
When she was asked if she would support a direct bailout of Spain's banks she gives no ground, despite Spain's sovereign credit rating having just fallen closer to junk status.

Historical turnarounds

Both Merkel and Key could be called historical turnarounds. She started life behind the Berlin wall, while Key's mother was one of many who fled Austria and the aggression of an earlier age.
"There are a number of memories I have of my mother," said Key. "But one is obviously her being extremely traumatised.

"She lost her own family members herself in the concentration camps."
Key had intended to visit Berlin's Memorial to the Murdered Jews of Europe in the memory of his mother.

"I think the Germans have gone to extraordinary lengths to ensure their people never forget what happened," he said. "I don't feel bitter about that, but I also want to pay my respects for what's taken place."

However, last minute changes to travel plans meant he was not able to visit the memorial.

Key's six day trip to Europe for the Queen's Diamond Jubilee celebrations includes visits to London, Hamburg, Berlin and Brussells.