German Chancellor Angela Merkel said on Wednesday that the euro zone economy was in better shape than a year ago and said reform efforts by countries like Spain and Ireland had paid off.
“If we look at the euro zone as a whole, we can say that there is an economic recovery, the situation is better than a year ago,” Merkel told the Bundestag lower house of parliament.
“In particular, the euro countries that carried out deep reforms, Spain and Ireland, are growing more than average. Spain is growing as fast as it did before the crisis. We can only say that the reform path was worth it,” she added.