By Martin Robinson PUBLISHED: 04:46 EST, 1 January 2013 | UPDATED: 07:37 EST, 1 January 2013 Angela Merkel has used her New Year's Eve speech to launch an open attack on the City of London as she attempts to win a third term as German Chancellor in 2013. In a move that will be grasped by British Eurosceptics, Mrs Merkel told Germany that she will repress Europe's biggest financial markets and fight to strengthen the EU's grip on banking. The Chancellor openly blames the financial collapse of the U.S. economy and light-touch regulation spearheaded by Britain for the Eurozone crisis.
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German Chancellor demands more strict controls imposed on Europe's biggest financial markets
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Mrs Merkel wants to be re-elected in September 2013 and Eurozone stability will help her win third term
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'Internationally, more needs to be done in order to exercise control over the financial markets,' she said on German TV last night
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David Cameron will give speech this month demanding more powers are grabbed back from Brussels
In what is viewed as a speech that will kick-start the election race, @placeholder urged Germans to be more patient even though the euro zone crisis has already dragged on for three years.