Saturday, July 26, 2014   

Ukraine weighs on German fiscal health
(04-08 15:46)

German Finance Minister Wolfgang Schaeuble warned that turmoil in Ukraine could threaten Berlin's bid to produce a balanced budget next year.
Schaeuble told the daily Bild: “No one knows, for example, how things will go in Ukraine.’’
But he said “the odds are good'' for a balanced budget “and we will do everything we can to make sure that happens.’’
Germany is heavily dependent on Russian energy and gas but has threatened to impose economic sanctions on Moscow if it further violates Ukraine's borders following its annexation of the Crimean peninsula last month.
Schaeuble is to formally present plans to parliament today to achieve a consistently balanced budget from 2015, the first time since 1969.
Europe's biggest economy will run up only a small public deficit of 6.5 billion euros in 2014 down from 22.1 billion euros in 2013, Schaeuble announced last month.—AFP

   
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