German SPD Said to Want Schaeuble to Lose Euro Power
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Germany’s Social Democrats want to strip euro policy making from the Finance Ministry in Chancellor Angela Merkel’s third term, according to three people familiar with the party’s negotiating strategy.
The SPD is pushing in coalition talks with Merkel’s bloc that began in Berlin today to confine the powers of the ministry currently run by Wolfgang Schaeuble to the budget and to financial ties between the federal and state governments, the people said on condition of anonymity because the deliberations are private. Responsibility for Europe, the euro and banking would be split off into another ministry, they said.