Arab Today, arab today easing eu budget rules is wrong way
Last Updated : GMT 23:26:46
Arab Today, arab today
Arab Today, arab today

German finance minister:

Easing EU budget rules is wrong way

Arab Today, arab today

Arab Today, arab today Easing EU budget rules is wrong way

Euro logo in front of the European Central Bank
Berlin - AFP

German Finance Minister Wolfgang Schaeuble hit back on Tuesday at critics of austerity in Europe, saying economic growth cannot be boosted by easing the bloc's budget rules or cutting interest rates.
"One can't simply buy jobs and growth with public money," Schaeuble told the lower house of German parliament, or Bundestag, in a budget debate.
His remarks may be seen as a reply to critics who blame Germany for imposing austerity on countries with big budget deficits. Such criticism has been strong in France recently. 
Countries must get their finances in order by pressing ahead with structural reform, even if such measures are unpopular, Schaeuble continued.
Believing that simply easing the EU's strict budget rules was a way to stimulate growth, was "a mistake", he said.
"We're not going to go down that path," Schaeuble told the lower house of German parliament, or Bundestag, in a preliminary hearing on the government's 2015 budget. 
Neither could politicians shift the responsibility to the European Central Bank, the minister argued.
The European Central Bank "is doing what it can, but as you can see it is not in a position to force growth," he said. 
Last week, the ECB cut its key interest rates to new historic lows in a surprise move, and unveiled plans for asset purchases, in a bid to prevent the single currency region from slipping into deflation. 
While the economy was flush with liquidity, businesses were still finding it difficult to find access to credit and that was a structural problem, Schaeuble said. 
"Over the past few years, we've proven time and again -- and we must constantly remind ourselves of that -- that solid fiscal policy is the best policy for growth and jobs," Schaeuble said. 
"Budgets without new debt must become the norm from 2015," the minister continued. "That's the promise we've made and and it's promise we'll deliver on." 
Schaeuble insisted that "this isn't an end in itself. But it's a sign of reliability. It's the only way we'll be able to safeguard confidence. Reliability is elementary for both investors and consumers," Schaeuble said.
- France in focus -
Germany has come under attack from many of its European neighbours for insisting that countries bring down their public deficits. Critics argue that austerity is harmful to growth and jobs.
France, where there is hostility to the EU's limits on budget deficits, has already indicated that it will again struggle to meet the EU's strict requirements.
The French government has just been restructured after former Economy Minister Arnaud Montebourg attacked policies for budget rigour by the EU Commission, the ECB and Germany.
Montebourg was sacked for his latest remarks, but the crisis widened a split on the left of French politics.
Schaeuble said, referring to reliabilty and stability, sai: "That is keeping our promises. It involves sticking to the rules. Everyone must stick to the rules, which we've drawn up together." 
At the same time, Schaeuble said he and his French counterpart, Michel Sapin, were examining "joint propositions for creasing better investment conditions, both at a national and European level." 
The two ministers would present their proposals to a summit in Milan on Saturday, he said. 

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 easing eu budget rules is wrong way Arab Today, arab today easing eu budget rules is wrong way

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
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