Thursday, October 23, 2014   

New debt 'worst possible' error in EU: Schaeuble
(06-24 15:53)

Running up new debt would be "the worst possible'' thing to do, German Finance Minister Wolfgang Schaeuble said on Tuesday as a debate resurfaces over an easing of EU fiscal rules.
"Running up new debt would be the worst possible mistake we could make,'' Schaeuble told German public radio InfoRadio in an interview.
EU members should "stick to the rules we jointly drew up. Nothing more, nothing less,'' the minister said, amid a growing debate on whether countries such as France and Italy should be given more time to get their finances in order.
Germany "provides the proof that a sensible fiscal policy and a continuous reduction of the deficit is one of the pre-conditions for sustainable growth,'' the minister said.
Germany's vice chancellor and economy minister, the Social Democrat Sigmar Gabriel, recently suggested that economically embattled countries be offered some latitude in meeting EU rules while they got their finances in order.
But Chancellor Angela Merkel was quick to respond that she sees no need to modify Europe's budget rules. --AFP   
Other World breaking news:
Colossal volcanic eruption could destroy Japan: study (2 hrs 13 mins ago)
France sends police reinforcements to Calais after migrant clashes (2 hrs 43 mins ago)
New Japan minister hit by S&M bar scandal (10-23 17:23)
Ebola sleuths scour DR Congo jungle for source of outbreak (10-23 11:36)
Lone gunman kills Canadian soldier in Ottawa attack (10-23 11:14)
Two die in Sierra Leone riot sparked by Ebola blood testing (10-22 18:54)
Suspects retract claims they killed Brits: lawyers (10-22 18:50)
Father of UK hostage dies after appeal to save son (10-22 18:48)
NKorea says Kim Jong-Un freed US detainee on Obama request (10-22 18:44)
Japan deputy PM directly urges China to hold summit (10-22 18:26)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.