germany should ditch austerity embrace eu investment
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Germany should ditch austerity, embrace EU investment

Arab Today, arab today

Arab Today, arab today Germany should ditch austerity, embrace EU investment

Chancellor Angela Merkel (R)
Berlin - Arab Today

Germany should send a new message to the European Union that investment is more important than austerity, Foreign Minister Sigmar Gabriel said in a guest article to be published in the conservative daily Frankfurter Allgemeine Zeitung on Wednesday.

To back up the message, Berlin should offer to further increase its contribution to the EU budget, Gabriel, a Social Democrat in coalition with Chancellor Angela Merkel's conservatives, said. 

He said the German economy would benefit strongly from rising investment levels in Europe.

Germany is gearing up to for what is expected to be a close-run federal election in September and Gabriel's comments are the clearest sign yet that his Social Democrats want to distance themselves from the budget rigour advocated by Merkel's party.

"Every euro that we make available to the EU budget comes back to us several times, directly or indirectly", Gabriel writes, according to a text pre-released on Tuesday.

Gabriel stood aside in January for former European Parliament president Martin Schulz to take over as leader of the Social Democrats, who have since enjoyed a revival in support that threatens Merkel's bid for a fourth term.

Germany, Europe's largest economy, already makes the largest net contribution to the EU budget each year at over 15 billion euros ($16.22 billion). The sum could swell by 4.5 billion euros per year in 2019 and 2020 after Britain leaves the bloc.

Gabriel criticised the conservatives for preaching austerity and structural reforms to its European partners when Germany itself only managed to successfully reform its own economy by first loosening EU budget rules and increasing its deficits.

The result of this strategy has been an economically strong Germany that now is able to easily stick to budget rules and even lower its debt burden, Gabriel writes.

Finance Minister Wolfgang Schaeuble, a senior member of Merkel's conservatives, has become a hate figure in some European countries for his insistence on fiscal rigour and budget rules. But he is one of the most popular politicians in Germany.

Schaeuble last week presented the preliminary framework for Germany's 2018 federal budget and his fiscal plans until 2021. These outlined a gradual increase in state spending until 2021 without net new debt, sticking to Berlin's goal of running a balanced budget despite international calls to hike investment more strongly in infrastructure and defence.

A possible coalition government led by the centre-left Social Democrats could put greater emphasis on investment. This means that the budget plans for 2018 and beyond could be subject to revisions if a new coalition takes power.

Source : Times Of Oman

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*

germany should ditch austerity embrace eu investment germany should ditch austerity embrace eu investment

 



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*

germany should ditch austerity embrace eu investment germany should ditch austerity embrace eu investment

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:16 2017 Monday ,25 December

Sharjah Ruler issues Emiri Decree on SGMB functions

GMT 13:16 2017 Sunday ,15 October

Qatari sheikh says assets frozen over Gulf crisis

GMT 12:50 2017 Saturday ,11 November

ICC prosecutor calls for Afghanistan war crimes probe

GMT 13:28 2012 Friday ,17 February

NYT\'s Anthony Shadid dies in Syria

GMT 16:44 2017 Friday ,01 September

Al-Bashir to partake in OIC Summit in Kazakhstan
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday