Germany to ban excessive borrowing

Germany will amend its constitution to ban excessive public borrowing and set up a strict repayment schedule for the public deficit caused by its latest fiscal stimuli, Chancellor Angela Merkel said on the 13 January 2009, underlining Berlin’s rising concern about the erosion of fiscal discipline in Europe.

ESO: Background information: German coalition agrees €50bn stimulus http://www.europeansources.info/record/german-coalition-agrees-e50bn-stimulus/

BBC News, 13.1.09: Germany agrees 50bn euro stimulus http://news.bbc.co.uk/1/hi/business/7825513.stm

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