The German Chancellor, Angela Merkel told the parliament today that the European Union is able to overcome the debt crisis, while Europe will emerge stronger in case governments show patience and commitment to their budget plans, which in result will save their economies and support the pace of recovery.

I am convinced that if we have the necessary patience and endurance, if we do not let reversals get us down, if we consistently move towards a fiscal and stability union, if we actually complete the economic and currency union ... then what I have always stated as our goal since the beginning of the crisis will come to pass, Merkel said.

Then Europe will not only overcome this crisis, but Europe will emerge from this crisis stronger than when it went into it.