German Chancellor Angela Merkel said efforts by the EU member nations to return to sound finances without government support need to be coordinated with Japan and the US. Merkel said developing an "internationally coordinated exit strategy" is likely the "biggest challenge" to getting past the financial crisis. "The crisis, which hasn't mainly originated in Europe, has taught us that if one big player in the global competition doesn't stick to rules, all others have to pay for the consequences," she said.

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