FRANKFURT (MNI) – The financial crisis is coming to an end and the
German government will look to start bringing its finances under control
next year, the German Finance Minister said.
“The financial crisis is nearing its end,” Finance Minister
Wolfgang Schaeuble said in an interview with business daily,
Handelsblatt published on Tuesday.
“We will start consolidation in 2011 and draw down the deficit to a
maximum of 0.35% of GDP by 2016. Full stop,” he added, referring to
Germany’s constitutional budget balancing requirement.
Schaeuble said the law, which recently went into effect in Germany,
does not allow any room for interpretation.
— Frankfurt bureau; +49-69-720-142; frankfurt@marketnews.com —
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