Negotiations on eu fiscal pact end without result

Negotiations on eu fiscal pact end without result

However, they prepared the meeting of chancellor angela merkel with the leaders of the parties this wednesday. Merkel had previously assured the opposition that the government intends to implement a financial transaction tax in europe.

CDU budget expert norbert barthle said he was optimistic that the fiscal pact for more budgetary discipline, together with the ESM bailout fund, would be passed by a two-thirds majority in the bundestag before the summer recess. For that, the black-yellow government needs votes from the opposition.

However, SPD parliamentary manager thomas oppermann demanded: "the coalition must take the irreversible path to the introduction of the financial transaction tax. We call for a clear decision, which should also include a concrete timetable."

Barthle said there were still a number of disagreements. SPD and greens had also set new demands. The opposition is now demanding a precise timetable for what the federal government will do, how and when, to ensure that the financial transaction tax is introduced. She also wants to see financial products named.

The greens demanded talks on a banking union, said barthle. The opposition is now doing everything it can to play for time and not to come to an agreement with merkel as early as this wednesday. Nevertheless, barthle emphasized: "I am firmly convinced that we will be able to conclude the ESM and the fiscal pact before the summer recess."

FDP financial expert volker wissing reiterated that the coalition stands by the agreement with the opposition on financial market taxation. An attempt will now be made to reach a consensus at the summit meeting this wednesday. However, wissing admitted: "it is clear that the negotiations are not easy."

Wissing once again rejected demands, especially from the gruns, for an old debt repayment fund in the euro zone. There would be no constitutional changes for such a debt repayment pact. Wissing accused opposition of trying to "cut interest rates for southern european states at germany’s expense".

The finance working group will not meet again before the meeting with the chancellor on wednesday, the working group on measures for more economic growth and against youth unemployment in europe will meet on tuesday evening.

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