Germany Won’t Ratify Fiscal Pact by May, SPD Tells Sueddeutsche

Germany won’t be able to ratify the European fiscal pact by the end of May, Sueddeutsche Zeitung reported, citing Frank-Walter Steinmeier from the opposition Social Democratic Party.

Chancellor Angela Merkel must first negotiate with opposition parties to obtain a two-third majority in parliament, he was cited as saying. The opposition demands measures such as a taxation of financial-market transactions and a program to stimulate growth in weaker European economies, according to the newspaper.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at

To contact the editor responsible for this story: Kenneth Wong at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.