Senior German CDU politician Dr Michael Fuchs has said that Angela Merkel will resist moves to give the European Central Bank more power to increase the cash flow in the eurozone.

"Printing money is not a good way," he told John Humphrys. "If we have a currency union, we need to have a fiscal union as well."

The Germans still had a profound fear of inflation, he argued, and eurozone countries need to stop "spending, spending, spending" before financial support is given.

"We don't want to run Europe. If we have a currency union, we need to have a fiscal union as well."

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