Arab Today, arab today germany keeps up austerity drive after ecb help
Last Updated : GMT 15:33:42
Arab Today, arab today
Arab Today, arab today

Germany keeps up austerity drive after ECB help

Arab Today, arab today

Arab Today, arab today Germany keeps up austerity drive after ECB help

London - AFP

Germany\'s finance minister warned Sunday that debt-laden eurozone states must stick to promised reforms and cuts despite last week\'s offer of help from the European Central Bank that calmed markets. In a wide-ranging interview with the Bild am Sonntag weekly, Wolfgang Schaeuble also expressed confidence that Germany\'s top court would not shoot down the eurozone\'s proposed new rescue fund on Wednesday. \"It would be a grave mistake to interpret the ECB decision incorrectly as meaning that (reform) efforts can now be slackened. The opposite is true,\" said Schaeuble. \"The problems of the eurozone can only be tackled where they are at the moment: in the member states,\" he added, pointing to the need to cut public deficits and boost competitiveness. In a decision that sent markets booming, ECB President Mario Draghi announced Thursday the bank would buy unlimited amounts of the bonds of struggling countries to bring down their soaring borrowing costs. While Chancellor Angela Merkel insisted the ECB was acting within its mandate, several politicians and media in Germany slammed the decision as providing a \"blank cheque\" to profligate euro countries. The head of the powerful German central bank, Jens Weidmann, put out a statement shortly after Draghi\'s announcement to express hisreservations, although his was the only \"dissenting view.\" Schaeuble also said he was not concerned by a closely watched ruling by Germany\'s Constitutional Court on legal challenges to the ESM bailout fund and the EU\'s fiscal pact for greater budgetary discipline. \"When we set up the ESM, we checked carefully that it did not break the Constitution,\" Schaeuble said. \"And one should not forget that the Constitutional Court has never judged that the course of European integration has contravened the constitution,\" added the minister. In a ruling that will be watched nervously by the financial markets, the court will on Wednesday rule on the validity of a series of legal complaints against the ESM, which has delayed the 500-billion-euro fund coming into force.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germany keeps up austerity drive after ecb help Arab Today, arab today germany keeps up austerity drive after ecb help

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germany keeps up austerity drive after ecb help Arab Today, arab today germany keeps up austerity drive after ecb help

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday