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Germany must spend more money on supporting European Union countries in crisis, Der Spiegel cited British Deputy Prime Minister Nick Clegg as saying in an interview.
A common currency won’t work without transfer payments, while fiscal discipline alone won’t save the euro, Clegg told the magazine. Direct payments to other governments or jointly issued euro area bonds are unavoidable, Clegg said, according to Der Spiegel.
To contact the reporter on this story: Karin Matussek in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net