Economics
Germany to Use EU Funds to Trim About 15 Billion Euros From Debt
- Improving economy is spurring calls for fiscal discipline
- Only new spending initiative is 500 million euros for schools
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Germany will use its share of the European Union’s rescue program to avoid taking on more debt rather than fund new growth initiatives.
Chancellor Angela Merkel’s coalition agreed to spend about 15 billion euros ($18 billion) from the EU on existing programs, including measures already part of Germany’s stimulus plan as well as the country’s coal exit, according to people familiar with the discussions.