Arab Today, arab today no need to change europes budget rules
Last Updated : GMT 20:29:54
Arab Today, arab today
Arab Today, arab today

German Chancellor Angela Merkel:

'No need to change' Europe's budget rules

Arab Today, arab today

Arab Today, arab today 'No need to change' Europe's budget rules

German Chancellor Angela Merkel
Berlin - Arab Today

German Chancellor Angela Merkel said Wednesday she sees no need to change Europe's budget rules after her economy minister suggested that countries be given more time to get their finances in order.
"We're agreed: there is no need to change the Stability Pact," Merkel told reporters, referring to a strict set of EU fiscal rules requiring member states to keep their deficits in check.
"The Stability Pact as it now stands already contains all the flexibility we need to overcome the problems. We are all convinced of that," Merkel told a joint news conference with Tunisian Prime Minister Mehdi Jomaa.
She added that she had consulted ahead of an earlier weekly cabinet meeting with Economy Minister and Vice Chancellor Sigmar Gabriel, the head of the Social Democrats, who are junior partners in her left-right coalition government.
Gabriel had hinted in a newspaper interview earlier that countries such as France and Italy could be given more time to get their finances in order.
In comments which analysts said could re-start a debate over austerity and growth in Europe, Gabriel struck a conciliatory tone to countries struggling to meet the conditions of the Stability Pact.
"I'm in favour of more honesty in the debate," he told German daily Bild.
"We Germans are in better shape than other countries because we pushed through a tough reform programme. But we, too, needed time to cut our state debt," Gabriel said.
Under EU rules, public deficits -- the shortfall between government income and spending -- should not exceed 3.0 percent of annual gross domestic product.
Accumulated debt -- the sum of all those annual deficits -- is supposed to be kept at 60 percent of GDP.
On Monday, Gabriel had joined his French counterpart Arnaud Montebourg in calling for more time for indebted European countries to implement reforms to rein in their budget deficits and Montebourg welcomed Gabriel's support.
Merkel's conservatives in Germany's "grand coalition" are opposed to any easing of deficit rules.
And Gabriel seemed to try to backpedal somewhat in the Bild interview.
"We mustn't stray from the Stability Pact," he said.
"It's not enough simply to announce reforms. The Stability Pact provides for flexibility and time once the reforms have been implemented."
German government spokesman Steffen Seibert also insisted that "the Pact already comprises the necessary flexibility.
"That's why we must act within the framework of the Pact," he told a regular government news conference.
Berlin is not planning to change it, Seibert said.
On Tuesday, the French national accounting court said that France was set to miss its extended target for reducing its public deficit this year.
Source: AFP

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 no need to change europes budget rules Arab Today, arab today no need to change europes budget rules

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: حوارات وتقارير
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
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 Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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