InfoAnda - Merkel takes aim at spending to balance German budget

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Bus bombings south of Baghdad kill at least 11 | International | | 25 August 2009
Thailand hikes interest rates for first time since 2008 | 15 July 2010
Israelis, Palestinians call for prisoner exchange | | 6 July 2010

Honda recalls 528,000 vehicles worldwide for brake defect | 23 October 2010

Forum Views () Forum Replies ()

Read more with google mobile : Merkel takes aim at spending to balance German budget

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Merkel takes aim at spending to balance German budget AFP - 2 hours 11 minutes ago Send IM Story Print Merkel takes aim at spending to balance German budget BERLIN (AFP) - – German Chancellor Angela Merkel said the focus will be on slashing spending rather than hiking taxes as her government began work Sunday on austerity measures for Europe's largest economy. "It's about focusing on the expenditure side," said Merkel as her centre-right coalition government sat down to hash out what could be its biggest post-war budget cuts. The government plans to announce on Monday its "concepts" for the 2001 budget and public spending targets through 2014. Merkel indicated that the axe was likely to fall on social benefits, while funding for training and research would be spared. "It is essential that investments directed towards the future gain in importance and the instruments of social policy are organised more efficiently," she said. Faced with a projected budget deficit this year nearly double the EU maximum, Merkel wants to save around 10 billion euros (12 billion dollars) next year, in order to comply with a new law that the country must have an approximately balanced budget by 2016. Merkel avoided the question of tax rises, which are supported by her conservative CDU party but opposed by her junior coalition partner, the pro-business Free Democrats. "It's time for savings" in order to "bring discipline to state spending," said Foreign Minister Guido Westerwelle, a Free Democrat. "One can't always balance the budget by bringing in new money, instead one has to reduce expenditures," he added. According to Der Spiegel magazine, the government is considering cutting 15,000 jobs from the federal administration by 2014 to start bringing in 800 million euros of savings in next year. Among the measures under consideration, according to German media, are a special tax on flights, higher taxes for tobacco and brutal cuts across all government departments. Like other countries, when faced with global financial crisis in 2008, Germany pulled out the budgetary stops to ensure the world's economy would not contract too sharply. But the Greek debt crisis has brought Germans' traditional tendency towards fiscal conservatism back to the forefront. "We'll change off this course of adverse developments in time" to give a "good impetus to our country," said Finance Minister Wolfgang Schaeuble. He has not bothered trying to sweeten the pill, telling reporters earlier the measures would be drastic, even "stricter than necessary" to allow greater room for manoeuvre later. However, Berlin's hair-shirt approach has caused consternation in some of its biggest trading partners, who worry Germany's stomping on the brake will stop the fragile global economic recovery. Janusz Lewandowski, EU budgetary commissioner, said last week: "Germany is an island of stability in the crisis and does not need to make many savings." French Finance Minister Christine Lagarde ruffled German feathers when she suggested that Berlin should "do a little something" to help its eurozone partners, proposing tax cuts to spur the economy. On a recent visit to Berlin, US Treasury Secretary Timothy Geithner, complained that his country could not be the only engine driving global growth. Recommend Send IM Story Print News Search Top Stories Activists expelled as Israel resists Gaza inquiry pressure Merkel takes aim at spending to balance German budget Juncker plays down fears for eurozone Karzai orders freeing of inmates held without grounds New world record for longest poker game More Top Stories » Most Popular Most Viewed Most Recommended New world record for longest poker game Obama vows help as BP sees oil spill progress Eurozone debt could squeeze banks: experts Nadal calls truce with title rival Soderling New anti-cancer drug extends life of melanoma victims More Most Viewed » Hubble catches planet being devoured by its star The point about pain: New study sheds light on acupuncture Ocean fish could disappear in 40 years: UN Paris museum burglar grabs 120-million-dollar art haul US team creates first 'synthetic life' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 7 June 2010
Afghan interior minister, secret service chief resign
Merkel takes aim at spending to balance German budget
Karzai orders freeing of inmates held without grounds
British cabbie who shot dead 12 was 'nicest man': sons
Five NATO soldiers killed in Afghanistan
Afghan interior, intel chiefs replaced over attack
Yemen holds U.S., French students on security concerns |
Juncker plays down fears for eurozone
Karzai orders freeing of inmates held without grounds
5 NATO troops killed in 1 day in Afghanistan
Colombian air force says kills six rebels in attack |
Kenya says ready to defend against al Shabaab rebels |
Cyclone Phet hits Pakistan's coastline: officials
N.Korea warns of retaliation for South's UN campaign
Foxconn to give Chinese workers another pay raise
Small Plane Crashes Into Long Island Building
Shrek rules North American box office for third week
Sandra Bullock calls personal life an explosion |
Shrek laughs its way past two new comedies |
Iran Red Crescent to send two aid ships to Gaza
Somali rebels to release message from hostage: SITE
Facebook streams updates to websites
Clinton warns of likely Iranian 'stunt' ahead of UN sanctions vote
Next Japan PM to tap fiscal reformers |
As record sales drop, singers flock to festivals
Afghan interior, intel chiefs replaced over attack
US dollar flexes muscle as crisis stalks markets
Israeli patrol kills four militants in diving gear |
UN warns climate change could trigger 'mega-disasters'
Not forgotten: Remains of US soldier sought on Vietnam hill
North Korea assembly holds rare session amid sanctions push |
Tornadoes, Storms Kill At Least 7, Injure Dozens In Midwest Rampage
Marine sponge drug extends breast cancer survival: study
Costa Rica puts brakes on popular stem cell tourism |
Activists expelled as Israel resists Gaza inquiry pressure
Murder Suspect, Porn Actor Killed After Jumping From Cliff
Indian court convicts eight in Bhopal gas disaster |
US, Egypt hold talks in wake of flotilla raid
Indian court convicts eight over Bhopal disaster
Rare Javan rhino found dead in Indonesia
Foxconn gives China workers dramatic wage hike
12 children die in Indonesia bridge collapse
Verdicts due 25 years after Bhopal gas disaster
Tight security for China college entrance exams
Six rescued after three days in flooded China mine
Yahoo users to gain more access to Facebook |
Japan's new PM enjoys 60 percent support in polls
Asia Foundation new head to back 'quiet champions'
N.Korea lawmakers to meet amid rising tensions
China Bank of Communications' rights issue reduced
Agricultural Bank of China IPO size doubt: report
Asian stocks, euro fall on US jobs data, Hungary fears
Foxconn gives China workers dramatic wage hike
AT&T in talks on buying stake in Reliance: WSJ
Tokyo shares dive on euro worries, weak US data
Global downturn a thing of the past for Asia's top IT show
Sharp improves wall display technology
Racism still blights southern US juries: study
Miley Cyrus draws crowd during first performance in Spain
Abu Dhabi 'leaning tower' beats Pisa: press
Sao Paulo holds 'world's biggest' gay parade
Tourism-dependent Florida braces for hit as next Gulf oil front
Rock in Rio Madrid festival to return in 2012: organisers
African festival crowns films on peacekeepers, polygamy
Twilight sequel shines at MTV Movie Awards |
The rise of TV's Anti-Mom |
Shrek laughs its way past two new comedies |
Dilemmas and drugs: reality hosts swap stories |
The Good Life: Julianna Margulies |
30 Rock producer keeps laughs flowing |
A day in the life of Parks and Recreation writers |
Iran is 'special case' for UN atomic watchdog
Ex-Union Carbide officials sentenced over Bhopal leak |
Karzai defends removal of Afghan security chiefs
Stocks drop on Hungary, US fears
Israel rejects international inquiry into lethal raid |
Allen in shooting flurry as Celtics even the score
Suicide bombers attack Afghan police compound
Turkey heaps pressure on Israel over Gaza at talks |
Stampede unrelated to World Cup organisation: FIFA
Investigators Countinue To Search For Missing Second Grader
Blast hits police compound in southern Afghanistan
Search To Continue For Former Police Sgt. Drew Peterson's Fourth Wife
Mild Quake Wakes Los Angeles
Rangel Launches Bid For 21st Term
Police targeted in Iraq attacks |
Study: Selenium Supplements Do Not Prevent Cancer
Yemen arrests 50 foreigners |
Shooting At Florida Restaurant Leaves 5 Dead
ICC nears deal to prosecute state aggression |
Regular, Earlier Bed Times Linked To Higher Scores In Young Children
Darfur sees bloodiest month in two years: U.N. |
"Shrek" Still Rules Box Office; "Greek," "Killers" Place 2nd And 3rd
Nigeria cleans poisoned villages, treats children |
US seeks 'new ways' to handle Gaza after boat deaths: Biden
N.Korean leadership 'sacks premier'
Clinton to begin L.America tour amid security concerns
Sri Lanka says could hang former army chief
Global Weather-Celsius
Jobs headlines Apple event, new iPhone in the wings |
Lost WWII battlefield found in Papua New Guinea
Ex-China PM's 'diary' sheds new light on Tiananmen
Connecticut to ask Google if collected WiFi data |
Iran's Ahmadinejad to visit China
Renault, Nissan eye Ssangyong takeover
Malaysia calls for measures to halt oil price fixing
S.Korea envoy to visit China over warship sinking
India's Reliance telecom in talks for stake sale: source
Guilty verdicts 25 years after India's gas disaster
Stocks tumble on Hungary, US fears
Simon Cowell honoured at British television awards
Malaysia's Proton says Volkswagen ditches tie-up talks
Cross-border rules hampering ASEAN trade: industry
Li hopes autism film alternative to blockbusters
Former Stereophonics drummer Cable found dead |
Israel breaks ground with opera on Dead Sea shores |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01