BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble believes
that the EU fiscal compact will come into force, he said in an interview
with German weekly Welt am Sonntag (WamS) published Sunday.
The minister argued that the fiscal compact brings “confidence in
the long-term stability of the system.”
The Socialist candidate in the French presidential election,
Francois Hollande, has announced that if he wins, he will demand that
the pact be complemented by a growth component.
Eurogroup chairman Jean-Claude Juncker was quoted by WamS as saying
that “the idea that one could renegotiate the contract completely and
scrap substantial elements is a utopia.”
Juncker said he would talk to Hollande about this if he wins the
French elections.
German government spokesman Steffen Seibert on Friday reaffirmed
Germany’s opposition to any renegotiations of the EU fiscal compact.
Seibert added that, in any case, German Chancellor Angela Merkel “will
work well together with any president.”
European Central Bank Executive Board member Joerg Asmussen, a
German national, was quoted by WamS as saying that the fiscal compact
should not be not be changed anymore.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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