Michael Huether, head of Germany’s IW economic institute, said the European Union should help rescue Spain’s banks rather than forcing the entire country to seek a bailout, Die Welt reported, citing an interview.
Michael Huether, the German economist and head of the IW economic institute, said eurozone governments may have to force Greece to exit the common currency unless the country adheres to its austerity promises, Bild-Zeitung reported.
Chancellor Angela Merkel’s platform for Sept. 22 elections fails to address the most pressing economic policy areas facing Germany and risks sacrificing the country’s prosperity, business lobby groups said.
A German Finance Ministry official said that budget-cutting rules must allow for flexibility, opening a chink in Chancellor Angela Merkel’s austerity-first policy as the only course to rescue Europe from its debt crisis.
Billionaire investor George Soros said Berlin homes are at risk of becoming overvalued because demand is being fueled by buyers seeking a safe place to put their money amid the European sovereign-debt crisis.