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Mix-Ansicht- Stabilitäts(?)pakt Deutschland / Frankreich - off-shore-trader, 04.11.2003, 14:02
Stabilitäts(?)pakt Deutschland / Frankreich
-->DJ ECOFIN: Germany's Schroeder Sees Deal On France End Nov
BERLIN (Dow Jones)--German Chancellor Gerhard Schroeder said Tuesday an
agreement should be reached at the next meeting of European Union finance
ministers in Brussels Nov. 25 on how to deal with France's breaking of E.U.
budget rules.
"I am very certain a procedure will be found at the next meeting in Brussels
at the end of November that will do justice to France's legitimate desire to
achieve growth without abandoning stability," Schroeder told journalists after
a meeting with Spanish Prime Minister Jose Maria Aznar.
Schroeder reiterated that E.U. budget rules under the Stability and Growth
Pact allow countries to boost growth.
"In certain circumstances it is important and right to emphasize growth
incentives," he said."The Stability Pact allows this."
He said neither Germany nor France are calling the pact into question or
asking for changes.
He said he expects the Commission and finance ministers"to agree on a
sensible course by consensus" on France's budget issue.
Monday, E.U. ministers had agreed to give Paris another reprieve until the
end of November to allow it to come up with new plans to cut its deficit next
year. Talks on France's budget problems continue in Brussels Tuesday.
Germany's backing for France comes as both countries are set to break the 3%
deficit to gross domestic product limit for a straight third year in 2004.
Under European budget rules, the E.U. Commission is empowered to issue strict
guidelines to slash spending when countries run large deficits. But the euro
zone's two largest countries are complaining that these recommendations are too
intrusive and should be weakened.
Until now, Germany has cooperated with the Commission more than France by
following recommendations for strict budget cuts and welfare reforms.
But Schroeder is reportedly pressing the Commission to give up its right to
ask for regular budget progress reports and make detailed spending
recommendations.
The Commission has refused to do this and European Monetary Affairs
Commissioner Pedro Solbes is pushing for a ministerial vote to support its
position.
This sets the stage for another showdown Nov. 25 when Germany would only need
the support of two large countries, such as Italy and the U.K., to stop the
enforcement procedure against France.
(END) Dow Jones Newswires
04-11-03 1241GMT
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Eine Krähe hackt der anderen doch keine Auge aus!!!
Greets
off-shore-trader
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