–Adds Plans By Left Party To Stop Fiscal Pact In Constitutional Court
BERLIN (MNI) – German Chancellor Angela Merkel’s CDU/CSU-FDP
government coalition and the main opposition parties will be able to
reach a compromise on the ratification of the EU fiscal compact by the
end of the week, CDU/CSU parliamentary leader Volker Kauder told German
ARD public television on Thursday.
Negotiations with the opposition will continue today and on
Saturday but only a few points remain open, Kauder said. Thus, the EU
fiscal compact together with the permanent European bailout fund ESM can
be passed in parliament on June 29 as planned, he asserted: “This will
work out.”
Since ratification of the fiscal compact in Germany requires a
two-thirds majority, Merkel needs support from the opposition.
The opposition is demanding that the government lobby for a
financial transaction tax at the European level and that measures to
boost growth be decided along with the fiscal compact.
Thomas Oppermann, the parliamentary whip of the SPD, the largest
opposition party, told ARD on Thursday that he was “cautiously
optimistic” for today’s talks “I see a chance for an agreement and think
the breakthrough could come today.”
Kauder said, though, that the opposition demand for a joint debt
redemption fund in the Eurozone had been turned down given that it would
violate EU rules.
The concept of the fund was devised last year by the government’s
council of independent economic advisers, the so called “wise men.” It
envisions the Eurozone states pooling the portion of their public debts
above 60% of GDP and refinancing this through joint eurobonds while
agreeing on fixed debt repayment plans.
Meanwhile, the German daily Frankfurter Rundschau reported Thursday
that the parliamentary group of the post-communist Left party plans to
stop the fiscal compact with an expedited motion to the Constitutional
Court.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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