Merkel defends legal action against fiscal profligacy

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　　"It would be logical, if the Commission ... could lay suit at the European Court of Justice," the chancellor said at a press conference after meeting with visiting Spanish Prime Minister Mariano Rajoy.

　　She emphasized that there was not much difference between "either the Commission prosecutes⁵, or one or more member states do so in place of the Commission," referring to the dispute on legality of other member states to act as referees⁶ if one or more states spend over their budgetary limit.

　　Rajoy, who took office late last year, said the stringent⁷ austerity police of his cabinet got along with economic restructuring efforts aimed at stimulating⁸ further growth, as it will "create solid foundations for our economy."

　　"The policy of fiscal consolidation⁹ together with structural¹⁰ reform will lead to sustained growth and creating jobs," he said.

　　Merkel also emphasized that the green light given by the a troika of the European Commission, the International Monetary¹¹ Fund (IMF) and the European Central Bank (ECB) is the prerequisite¹² to go-ahead for the bailout to Greece at the incoming EU summit on Monday.

　　"It's not humanly expectable that we'll have the troika report by the time of our (European) council on Monday," she said.

　　"That's why we really will be talking about growth policies and about trying to complete the fiscal compact," she said.

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