–FDP Parliament Spokesman Sets Conditions For Support
–Finance Minister Wolfgang Schaeuble Confident In Majority
FRANKFURT (MNI) – It appears increasingly unlikely that the parties
making up the German government’s coalition government will muster a
majority in the upcoming parliamentary vote on boosting the authority
and capacity of the European Financial Stability Facility (EFSF), German
weekly magazine Focus reported over the weekend.
According to the report, 23 coalition member parliamentarians have
already indicated that they would reject the EFSF reform proposals on
September 23.
Should these parliamentarians stick to their position, the CDU/FDP
government coalition would be unable to garner the 311 ‘yes’ votes
required to gain passage on the strength of their own majority in
parliament. A failure to do so could undermine confidence and spark
political turmoil in Germany, analysts have warned.
However, even if the government fails to deliver a majority of its
own coalition, the EFSF reform measures are widely expected to pass in
Germany with support from leading opposition parties. The measures,
agreed by Eurozone leaders on July 21, will only take effect if the
national parliaments of all 17 Eurozone countries formally approve the
deal.
Rainer Bruederle, parliamentary spokesman for the junior coalition
partner FDP, told the magazine that support for EFSF reforms would hinge
on supplementary Eurozone reforms such as stronger sanctions in a new
stability pact, national debt brakes and a firm rejection of Eurobonds.
In a separate German publication, Tagesspiegel, Finance Minister
Wolfgang Schaeuble said that he was “confident we’ll get a broad
majority, not only in parliament but also in the coalition.”
–Frankfurt bureau tel.: +49-69-720142. Email: jtreeck@marketnews.com
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