Germany’s Budget Doesn’t Include ESM, Sueddeutsche Zeitung Says

Germany’s Finance Minister Wolfgang Schaeuble might be forced to submit a supplementary budget for 2012 if the European Stability Mechanism is activated next year, Sueddeutsche Zeitung reported, citing Carsten Schneider, the Social Democratic Party’s spokesman in parliament.

Schneider said that if the ESM is activated, Schaeuble will be missing about 4.3 billion euros ($5.7 billion), according to the budget that was approved last week, the newspaper said.

To contact the reporter on this story: Ragnhild Kjetland in Frankfurt at rkjetland@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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