Merkel warns 2009 will be 'year of bad news' for economy
Chancellor Angela Merkel warned that 2009 will be ``a year of bad news'' for the economy, while a German regional bank announced it had secured Saturday up to 30 billion euros in state loan guarantees.
Chancellor of Germany Angela Merkel warned participants at the World Economic Forum against complacency about the risks of future financial crisis, saying that all the international mechanisms needed to prevent another crash are not yet in place.