Posted on 05/07/2012 4:35:06 PM PDT by Olog-hai
The German government on Monday ruled out reworking the European Union's fiscal pact despite calls to do so by French president-elect François Hollande.
"It is not possible to renegotiate the fiscal pact," government spokesman Steffen Seibert told a regular news conference.
He noted that 25 of the 27 EU member states had already signed the accord imposing strict budgetary discipline in March after major wrangling.
Hollande has called for a shift in strategy toward more growth-oriented measures including more public spending.
But Seibert said Merkel would not accept "deficit spending" to feed economic expansion, and believed in "growth through structural reforms" such as reducing the cost of job creation as pursued by Germany over the last decade.
Yet he dismissed suggestions that the apparently conflicting policies would put Merkel on a collision course with Germany's closest ally, insisting she was ready for an open dialogue. …
(Excerpt) Read more at ca.news.yahoo.com ...
The fact that our Federal Reserve had the power to send that money over there without our permission in the first place is more disgusting than the outcome of not getting paid back.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.