Skip to main content

Breaking News
  • Libya is facing a ‘severe challenge’ from increased extremist violence, says U.S. deputy secretary of state William Burns
  • Ukraine: One death amid crossfire at checkpoint in Slaviansk, medical authorities tell AFP
  • Spain’s unemployment rate falls to 25.73%, reports AFP
  • Ukraine says no need for currency intervention and that it expects no problems with 2014 debt payments (Reuters)
  • Ukrainian troops take control of a checkpoint north of Slaviansk after pro-Russian separatists appeared to abandon the post (Reuters)
Bundesbank’s frosty outlook
| Share this article

The head of Germany’s central bank is warning the eurozone crisis is not over and governments must tackle the roots of their troubles with reforms – pointing the finger particularly at Italy, Cyprus and France.

He spoke on the day the French president admitted Paris’ deficit will probably be much higher than promised: “I believe that France has a particular responsibility to make clear that the new rules that we agreed in the crisis – and one of them is the strengthened stability and growth pact – that those new rules are strictly applied; and the first time these rules are applied, we don’t look for an escape route from the bindingness of these rules.”

Jens Weidmann said France’s reform course “seems to have floundered” while President Francois Hollande said that due to weaker-than-expected growth the country’s public deficit will probably come in at 3.7 percent of economic output this year.

Under the stability and growth pact it is supposed to be three percent.

Copyright © 2014 euronews

More about:
| Share this article

Log in
Please enter your login details