Germany fails to ink European growth deal
Source: Agencies |
June 14, 2012, Thursday
|
Print Edition
Print Edition
GERMAN Chancellor Angela Merkel and the country's opposition leaders failed to reach an agreement on a European growth initiative in a new round of talks yesterday, according to participants.
Merkel and top opposition lawmakers held talks at Berlin's chancellery over policies to promote growth in Europe's ailing southern nations and the swift introduction of a financial transaction tax.
Germany's center-right government needs the support of opposition parties to secure a two-thirds majority in Parliament in order to pass the European Union's new treaty enshrining fiscal discipline.
"Because of the European economic crisis, the government is now forced to do something for growth and employment, but there are still no concrete proposals," Social Democrats' party chief Sigmar Gabriel said.
"We will waste German taxes for bailouts if we don't at the same time use money for actually saving the nations" by fostering growth in those economically struggling countries, he added.
Merkel has maintained that sustainable growth to overcome the debt crisis can be best fostered across Europe by structural reforms and a more efficient use of existing EU funds, not new stimulus spending that might be financed by yet more borrowing.
"Fiscal consolidation is a decisive point" for Europe's governments, said conservative parliamentary caucus leader Volker Kauder, a close Merkel ally. "For growth, structural reforms are necessary. It's not sufficient to throw money around."
Merkel is widely viewed as the European leader most prominently championing fiscal discipline and austerity measures, but a robust economy and rising tax take have spared her government of pushing through any sharp cuts at home.
Merkel and top opposition lawmakers held talks at Berlin's chancellery over policies to promote growth in Europe's ailing southern nations and the swift introduction of a financial transaction tax.
Germany's center-right government needs the support of opposition parties to secure a two-thirds majority in Parliament in order to pass the European Union's new treaty enshrining fiscal discipline.
"Because of the European economic crisis, the government is now forced to do something for growth and employment, but there are still no concrete proposals," Social Democrats' party chief Sigmar Gabriel said.
"We will waste German taxes for bailouts if we don't at the same time use money for actually saving the nations" by fostering growth in those economically struggling countries, he added.
Merkel has maintained that sustainable growth to overcome the debt crisis can be best fostered across Europe by structural reforms and a more efficient use of existing EU funds, not new stimulus spending that might be financed by yet more borrowing.
"Fiscal consolidation is a decisive point" for Europe's governments, said conservative parliamentary caucus leader Volker Kauder, a close Merkel ally. "For growth, structural reforms are necessary. It's not sufficient to throw money around."
Merkel is widely viewed as the European leader most prominently championing fiscal discipline and austerity measures, but a robust economy and rising tax take have spared her government of pushing through any sharp cuts at home.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
