Merkel Says Some Eurozone Members Should Be Prepared to Give Away Some Sovereignty

The German Chancellor made the comments a few months ahead of talks on a European "fiscal union"

(Reuters)—German Chancellor Angela Merkel said on Monday that euro zone members must be prepared to cede control over certain policy domains to European institutions if the bloc is truly to overcome its debt crisis and win back foreign investors.

Speaking at an event hosted by Deutsche Bank in Berlin alongside Polish Prime Minister Donald Tusk, Merkel also defended her approach to the crisis against critics who argue she has put too much emphasis on austerity, saying Europe must find a way to deliver both growth and solid finances.