Europe faces being crippled by debt until 2021, with devastating consequences for its population of 500million people, including those in Britain, Angela Merkel warned yesterday. The German Chancellor’s gloomy forecast of ten years of economic misery followed the failure at the G20 summit in Cannes to agree how to bail out bankrupt Greece. ‘This debt crisis will not simply go away,’ Mrs Merkel said. ‘It will certainly be a decade before we are in a better position.’ Warning: Angela Merkel has predicted that Europe's debt crisis is unlikely to be resolved any time soon In her weekly podcast to the German people, she added that to have any chance of solving the crisis, everyone in Europe had to ‘make an effort and do their homework’.
@highlight
German Chancellor warns 500million population will suffer for years to come
@highlight
Gloomy outlook follows failure of G20 summit to bail out bankrupt Greece
@highlight
Economic forecasters predict Britain's economy could be set back six years
And it is believed that Mrs Merkel fears a backlash from German  voters if they are asked to give more money to prop up countries such as @placeholder.