deficits
Resistance grows to EU treaty rewrite for Berlin
A German drive to rewrite the European Union treaty suffered a fierce backlash on Tuesday, putting the creation and shape of a permanent safety net for overspending euro nations back in doubt.
Franco-German eurozone reform raises hackles
A Franco-German drive to undertake a risky rewrite of the European Union's hard-fought Lisbon Treaty to tighten budgetary discipline among eurozone countries sparked fresh criticism from other EU member states on Monday.
Schäuble ramps up threat against big deficits
Talks on toughening budget rules to prevent a new European debt crisis heated up Monday as Germany called for the hammer to drop on countries that repeatedly run excessive deficits.
Berlin and Paris aim to block voting rights for EU deficit offenders
France and Germany said on Wednesday they want to suspend voting rights of EU member states which run up excessive deficits and to impose financial sanctions on them.
Ministers sabotage Merkel’s austerity drive
Several of Chancellor Angela Merkel’s cabinet ministers are reportedly threatening to sink her centre-right coalition’s proposed austerity package only weeks after they agreed to make deep spending cuts.
Windfall raises fresh calls for tax cuts
Tax cuts swiftly reappeared on the government agenda Wednesday following the unexpected good news this week that the nation’s finances were not as dire as they seemed.
Merkel refutes Obama on G20 fiscal policy
German Chancellor Angela Merkel directly contradicted US President Barack Obama on Saturday, saying spending cutbacks were now needed following the spate of throwing money at the global economic crisis.
Anxious middle class shrinks as gulf between rich and poor grows
A new study released on Thursday said the divide between Germany’s rich and poor continues to grow and is squeezing out the country's anxious middle class.
ECB heavyweights tangle over bond purchases
The French head of the European Central Bank on Monday differed sharply with his possible German successor over a radical switch of ECB policy to buy up government bonds which critics say could stoke inflation.
Coalition forced to weigh up tax hikes
German taxpayers face extra burdens as the federal government considers tax rises to tackle the gaping budget deficits forecast in the years ahead, a media report said Friday.
Flagellating the Fatherland
The New York Times on Thursday blasted Germany for its reaction to the Greek debt crisis. But the paper’s criticism of Berlin is naïve and flawed, argues The Local’s Marc Young in an editorial rebuttal.
Merkel pushes for new global financial rules
German Chancellor Angela Merkel on Thursday took up her campaign for greater financial market regulation and stricter EU budgetary rules at a meeting in Berlin with top officials from around the world.
Merkel tells Club Med not to expect cash transfers
German Chancellor Angela Merkel said on Tuesday that the European Union must be about more than just a system for transferring wealth from richer members to their struggling partners.
Investor confidence falters but eurozone locomotive chugs on
German investor confidence has fallen, a key survey showed Tuesday, but Europe's biggest economy should chug along a little longer as EU leaders try to get the crisis-hit eurozone back on track.
Merkel backs added EU budgetary surveillance
German Chancellor Angela Merkel on Wednesday welcomed new proposals to shore up eurozone financial stability as a "step in the right direction" and said she was unfazed by EU plans to vet states' budgets.
Sarkozy and Merkel push stricter eurozone rules
French President Nicolas Sarkozy and German Chancellor Angela Merkel have called for a budget crackdown in the eurozone to protect its single currency on the eve a major summit on the European debt crisis.