German Chancellor Angela Merkel said on Saturday that the settlement of the current eurozone's debt crisis will take at least a decade to complete.

"The debts have been accumulated over a decade," Merkel said in her weekly video podcast, adding that "it will certainly last for a decade until we are left feeling better."

In response to how to contain the debt crisis and forestall the possible massive economic recession, Merkel stressed it will be helpful to have a decision for all member nations inside the eurozone to brake their debts escalation.

However, she pointed out there lies "a very difficult road" ahead, saying "we also need to go step by step."

Merkel said all member states within the eurozone have to work hard to fulfil their "homework," and it was important to bring back all the matters to order.

Merkel also defended the state aid to rescue the crisis-ravaged banks. "If we would not have helped the banks, which would have meant that the real economy would have collapsed even more, and more jobs would have been in danger," she said while believing that the banks would deal with the hardship in their own capacities.

Further joint rescue actions from Germany and France would put the independence of the Bundesbank, the German central bank, under jeopardy, as it is demanded to shore up the gold and currency reserves of the bank once again by more than 15 billion euros (about 20 billion U.S. dollars).

It is out of the concern that the firepower of the 440-billion-euro rescue fund EFSF will not be enough, in case the larger eurozone's member states might falter in the chain reactions during the crisis.

VietNamNet/Xinhuanet