germany should ditch austerity embrace eu investment
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Germany should ditch austerity, embrace EU investment

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice 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

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 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 23:35 2017 Wednesday ,11 October

EUPOL COPPS appoints new EU head of the police mission

GMT 23:19 2017 Wednesday ,27 September

Iran big obstacle to regional peace

GMT 09:40 2017 Monday ,08 May

ADX launches New York roadshow

GMT 13:55 2011 Saturday ,18 June

American output picks up

GMT 09:23 2016 Thursday ,11 February

Paris, Frankfurt stocks markets dip more than 3%

GMT 13:44 2013 Sunday ,28 April

Egyptian information chief resigns

GMT 14:08 2012 Monday ,06 February

Spark tablet runs Linux

GMT 14:27 2017 Thursday ,24 August

Rising tennis stars in the US Open spotlight

GMT 03:03 2012 Friday ,27 April

10 unusual winter travel destinations

GMT 15:44 2012 Sunday ,02 December

Store sells solid gold tree

GMT 16:48 2017 Tuesday ,17 October

HRH Premier receives outgoing Iraqi ambassador

GMT 11:30 2017 Tuesday ,21 March

Al-Basher Receives Messages from Erdogan

GMT 08:32 2017 Saturday ,07 October

Saudi FM praises his country’s relation with Russia

GMT 00:37 2018 Wednesday ,24 January

Bitcoin slumps below $10,000

GMT 08:11 2018 Tuesday ,16 January

Philippines' Mayon volcano alert raised

GMT 14:03 2018 Saturday ,13 January

IGCF to Debate Impact of Digital Age

GMT 20:15 2018 Tuesday ,09 January

ADGM and Bahrain EDB agree to collaborate on fintech

GMT 13:24 2017 Monday ,20 March

Luis Enrique, Pique marvel at prolific Messi

GMT 11:28 2017 Saturday ,29 April

Artist Maia Diab denies retirement
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice 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 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice