BERLIN (AP) – German Chancellor Angela Merkel is adding to the pressure for eurozone heavyweights France and Italy to do more to get their finances and economies in order.
The European Union’s executive commission last month opted against sanctioning the two countries right now for missing public finance targets, giving them until the spring to come up with better plans to cut their debts and deficits.
Merkel – a leading advocate of budget discipline and structural reforms whose country has Europe’s biggest economy – was quoted as telling today’s Welt am Sonntag newspaper that the decision is “justifiable” because France and Italy are in the process of reforming.
But she added: “The commission has made clear that what is on the table so far isn’t yet enough. I agree with that.”