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.
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