Skip to main content

Germany’s Merkel: no need to loosen euro rules

BERLIN (AP) — German Chancellor Angela Merkel is making clear she won’t back changes to the 18-nation eurozone’s budget deficit rules after her deputy signaled greater flexibility.

Vice Chancellor Sigmar Gabriel, who criticized Germany’s austerity-led approach before his party joined Merkel in government in December, suggested in France this week that countries committing to reforms could get more time to reduce budget deficits.

Some interpreted that as a call to loosen rules requiring that deficits be kept below 3 percent of gross domestic product, which could benefit countries such as France or Italy.

Merkel said she and Gabriel agreed Wednesday that “there is no need to change the stability pact,” as the budget rules are called. She said it already contains “everything we need in terms of flexibility to overcome the problems.”

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
Read Next Story