Michael Meister, the deputy floor leader of German Chancellor Angela Merkel’s Christian Democratic Union party, urged Spain to seek aid from the European Financial Stability Facility as quickly as possible, Rheinische Post said.
Greek debt must be restructured as soon as possible and should include a reduction by about half, Lars Feld, a member of the German government’s council of economic advisers, said, Rheinische Post reported, citing an interview.
Norbert Barthle, budget spokesman in Angela Merkel’s Christian Democrat Party, said that in the face of the European Union’s debt crisis, a single authority should be created to deal with budget issues throughout the region, Rheinische Post Düsseldorf reported, citing Barthle.
German Finance Minister Wolfgang Schaeuble doesn’t envisage a financial transaction tax until 2014 at the earliest, Rheinische Post reported, citing a letter from Deputy Finance Minister Werner Gatzer to government departments.
European Central Bank Executive Board member Joerg Asmussen said he expects Greece to return to growth in 2014 provided it implements its austerity program, and the aim is to keep the country in the euro and return it to capital markets starting in 2015, Rheinische Post reported, citing an interview.