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German opposition: do more on European growth
Added At: 2012-03-31 5:34 PM
Last Updated At: 2012-03-31 5:34 PM
ASSOCIATED PRESS
BERLIN: Leaders of Germany's biggest opposition party say a new European fiscal-discipline pact should be accompanied by greater efforts to encourage growth and a tax on financial transactions.
The Social Democrats' three most prominent figures wrote in an article for the Frankfurter Allgemeine Sonntagszeitung newspaper that "a fiscal pact without growth impetuses and ... aid with the character of a 'Marshall plan' is completely insufficient."
Sigmar Gabriel, Frank-Walter Steinmeier and Peer Steinbrueck said the plan should be funded by a tax on transactions. But they didn't say they were setting conditions for supporting the fiscal-discipline pact.
Chancellor Angela Merkel needs a two-thirds majority in Parliament to get the pact approved and needs the Social Democrats' support.
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