HMS Astute
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Angela Merkel scolds Italy and France over the faltering Eurozone recovery
Wednesday 20 August 2014
Angela Merkel has delivered a sharp rebuke to Italy and France for hindering the eurozone's recovery by breaking longstanding fiscal rules.
The German chancellor, under pressure following a fall in GDP in the second quarter, said faltering growth was the direct result of the 18-member currency zone's inability to punish those countries that ran high deficits in contravention of limits set by Brussels.
She said Germany had shown it was possible to cut the government's annual spending deficit while at the same time improve the economic situation.
Angela Merkel scolds Italy and France over the faltering eurozone recovery | Business | theguardian.com
Wednesday 20 August 2014
Angela Merkel has delivered a sharp rebuke to Italy and France for hindering the eurozone's recovery by breaking longstanding fiscal rules.
The German chancellor, under pressure following a fall in GDP in the second quarter, said faltering growth was the direct result of the 18-member currency zone's inability to punish those countries that ran high deficits in contravention of limits set by Brussels.
She said Germany had shown it was possible to cut the government's annual spending deficit while at the same time improve the economic situation.
Angela Merkel scolds Italy and France over the faltering eurozone recovery | Business | theguardian.com