World Business News

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German minister signals support for weaker Eurozone deficit rules

Zone(s): EU, Germany ¦ Sector(s): Advertising Market
[17 June 2014, CITY A.M.] By Michael Bird: Sigmar Gabriel, Germany’s economy minister and one of the social democrats in the country’s coalition, yesterday expressed support for extensions on the Eurozone’s strict deficit targets.

Gabriel suggested that countries passing significant reform programmes could be given more time to reach the three per cent of GDP deficit target that euro area governments must work towards, but did not make clear how such a system would work in practice.

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