'European leaders' differences on a strategy to solve debt crisis have reached new heights, as German federalism views clashed with British efforts of repatriating certain powers from Brussels.

Berlin wants to speed up revision of the EU's Lisbon Treaty, which sets the framework of the 27-country bloc till the end of 2012, euronews reported on Wednesday. German Christian Democrat Chancellor Angela Merkel is pushing the idea of a permanent European mechanism in place to manage the financial crises.“We want automatic sanction mechanisms, the possibility for effective measures if someone infringes the Stability and Growth Pact.

For us, this means that we need to further develop the structure of the European Union. This does not mean less Europe, it means more Europe,” Merkel said on Monday.'

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