Germany to urge sustainable public spending at G8

Sat Jul 4, 2009 9:12am EDT
 
[-] Text [+]

BERLIN, July 4 (Reuters) - German Chancellor Angela Merkel will promote the consolidation of public finances at next week's Group of Eight Summit, according to German weekly "Tagesspiegel am Sonntag".

In an advanced release of a guest article to run in Sunday's "Taggespiegel" newspaper, Merkel wrote that she would advocate "bringing public expenditure as quickly as possible back onto a sustainable path after the end of the crisis."

"This is an important sign of confidence in countries' future capacity to act financially," she wrote.

Merkel has repeatedly stressed her desire to reduce the debt burden once the economic crisis has passed, and the German parliament last month amended the constitution to set future limits on public sector borrowing.

The leaders of the United States, Japan, Germany, France, Britain, Italy, Canada and Russia, together with those of major emerging economies, will meet in the central Italian town of L'Aquila for the July 8-10 meeting.

For stories on the G8 summit in Italy click on [ID:nL2198823] (Reporting by Sarah Marsh, Editing by Peter Blackburn)

 
Actors Vincent Curatola (L), Steven Van Zandt (C) and Tony Sirico from "The Sopranos" arrive at the 14th annual Screen Actors Guild Awards in Los Angeles January 27, 2008. REUTERS/Mario Anzuoni
Wall St meets "The Sopranos"

Details of an alleged insider trading ring read like the script of a mobster drama, full of coded nicknames, disposable cell phones and paranoia about informants. But in the end, all of the precautions were for naught.  Full Article 

Featured Broker sponsored link

REUTERS/Chip East
Insider sales not a sell signal this time

Corporate bosses are likely to sell more of their companies' stock through the end of the year, but that does not mean stock prices have reached a peak.  Full Article