Germany said the European leaders will not be able to provide final solution at the October 23 summit to overcome the debt crisis in Europe, as many policy makers called on leaders to fix the debt crisis once and for all.
Steffen Seibert, Merkel's chief spokesman said at briefing in Berlin that Angela Merkel, the German Chancellor significantly indicated that dreams that are taking hold again now that with this package everything will be solved and everything will be over on Monday won't be able to be fulfilled, while searching for an appropriate solution to end the crisis could take lawmakers more time as she said that it will surely extends well into next year.
G-20 finance ministers and Central Banks called on the leaders to come up with an emerging plan to protect Greece from a default and prevent the spread of the crisis into highly indebted other nations. They also called for empowering banks to secure the banking sector.
Seibert also said that during the summit leaders will search for tools to tighten the economic and financial policy and will discuss the best way for bank's recapitalization and using the European Financial Stability Facility effectively to fund indebted nations.