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.

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