German Chancellor Angela Merkel stood firm Thursday on the necessity of fiscal austerity, warning that any growth based on new debt would push Europe back to the mire of economic crisis.

The chancellor came under heavy pressure recently for her prescription to the prolonged eurozone debt crisis -- tough budget cuts and fiscal discipline, as voters in France and Greece voiced resentment against such courses by choosing candidates and parties lashing austerity and urging refocus on growth.

"Growth through structural reforms is sensible, important and necessary." Merkel told lawmakers in a speech in parliament. "Growth on credit would just push us back to the beginning of the crisis, and that is why we should not and will not do it."

Merkel stressed that cutting debt and boosting growth were "two pillars" of the wayout to the crisis, and slashing deficit and regaining competitiveness "are not contradictory", but belonging to each other.

However, Sunday's victory of Francois Hollande, France's President-elect, as well as the failure of pro-reform mainstream parties in Greek election, added a big weight to those who questioned Merkel's solution and campaigned for rewriting the EU's fiscal pact and putting growth at the center stage.

Merkel seemed unmoved by these callings, insisting that euro bonds and leveraging, measures advocated by Hollande and other European leader, are not "miracle cures" or "golden path" as they hailed and would be reckoned as unsustainable solutions.

Instead, "the European sovereign debt crisis will not be beaten overnight," she said. "Beating the crisis is a long and arduous process that will only succeed if we start at the root of the crisis -- the horrendous debts and a lack of competitiveness of some European nations."

On Monday, Merkel said that renegotiating the fiscal pact, a key part of Hollande's successful campaign, "simply won't happen."

These remarks highlighted the basic difference between conservative Merkel and socialist Holland, the two leaders of Europe's most influential nations, days before their first-ever meeting.

Hollande is expected to fly to Berlin and meet Merkel on May 15, hours after his swearing-in ceremony earlier that day.