Merkel: 2009 to be a bad economic year

BERLIN, Nov. 22 (UPI) -- German Chancellor Angela Merkel has warned that next year could be filled with bad economic news.

Speaking to the German newspaper Welt am Sonntag, the chancellor said the country's financial rescue package had stabilized financial markets but interbank lending continues to lag.

As for the European Union's planned stimulus package, she said it should be used to promote innovation and make Europe more competitive, Deutsche Welle reported.

CCTV reported that Merkel recently met with World Bank President Robert Zoellick on the sidelines of a conference during European Finance Week.