In spite of the crisis, the latest figures from the German Federal Office of Statistics indicate that Germany’s federal, state and local governments completed 2012 with a budget surplus. Notwithstanding the €10bn euros of additional spending to combat the euro crisis, Berlin borrowed €22.5bn, which was less than expected. Finance Minister Wolfgang Schäuble will be able to comply with the ‘golden rule’ for balanced budgets, notes the newspaper.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!