Bloomberg News

Merkel Needs Two-Thirds Majority for EU Budget Accord, SZ Says

March 03, 2012

German Chancellor Angela Merkel needs a two-thirds majority in parliament to obtain approval of the European Union agreement requiring balanced budgets, Sueddeutsche Zeitung reported.

The agreement, signed yesterday in Brussels by 25 of the European Union’s 27 states, requires more than a simple parliamentary majority because it shifts fiscal authority to the EU level, the newspaper said, citing unidentified German officials.

Germany’s constitution requires a broad consensus for such a step when it’s put up for a vote, the newspaper said. The requirement means Merkel depends on the support of opposition parties in both houses to ensure the accord is approved, SZ said

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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