Bloomberg News

Schaeuble Seeks to Create German Budget Committee, Spiegel Says

May 06, 2012

German Finance Minister Wolfgang Schaeuble wants to create an independent committee to oversee budget discipline at the state and federal levels, Der Spiegel reported, citing a document drafted by the ministry.

The committee would advise the stability council, where the state and federal governments agree on fiscal policy, and be composed of Bundesbank representatives, scientists and other officials, the Hamburg-based magazine reported.

The plans would implement rules agreed to under Europe’s fiscal pact on budget consolidation, Spiegel said in an e-mailed summary of an article.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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