Germany's Schaeuble says border closure would bring a big problem for Europe

German fin min across the wires

  • more funds will be needed in the EU to stem the refugee flow
  • more refugee funding required to keep Schengen intact

The other day I reported his and Merkel's hopes that a balanced German 2016 budget was still achievable while highlighting concerns

  • Eurozone must improve its competitiveness
  • reforms are bearing fruit

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