Merkel urges EU to keep up reforms as crisis not over

German Chancellor Angela Merkel addreses the German lower house of Parliament Bundestag in Berlin October 16, 2014. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Chancellor Angela Merkel told parliament on Thursday that Europe must push ahead with efforts to cut public deficits and improve competitiveness because the euro zone debt crisis has not yet been overcome and its causes have not been eliminated.

Speaking to the background of nervousness in financial markets about signs of a global slowdown, Merkel said European Union leaders must bear in mind, as they debate ways to boost growth, that painful fiscal reforms have begun to pay off.