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SPD Leader Gabriel Calls for European Growth Pact, Welt Reports

May 1 (Bloomberg) -- German Social Democratic leader Sigmar Gabriel said Europe needs a growth pact in addition to its fiscal pact to stop the debt burden from rising, Welt reported in a preview of a story that will run tomorrow, citing Gabriel.

German Chancellor Angela Merkel’s “pure austerity” plan has failed, Gabriel said, according to Welt. Europe needs structural programs, investments in education and industry and measures to lower youth unemployment, Gabriel told Welt.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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