Bloomberg News

Schaeuble Says Germany Wants Treaty Change for Budget Rules

November 29, 2011

Nov. 29 (Bloomberg) -- Finance Minister Wolfgang Schaeuble said Germany wants to change the European Union treaty to more strictly enforce budget rules across the 17-nation euro region.

“We, the federal government, want to create the possibility for European institutions by means of limited treaty changes -- you can take Protocol 14 of the Lisbon Treaty -- to enforce the obligations of the Stability and Growth Pact,” Schaeuble told reporters when he arrived in Brussels today to meet with his euro-area counterparts. Confidence will return to financial markets once the common monetary policy has been “complemented by a stability union,” Schaeuble said.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net


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