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

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.