Central Banks
France and Germany Are at Odds Over How to Bring Debt Down in EU
- French finance minister says automatic rules would be mistake
- German counterpart says he has support of other member states
Bruno Le Maire, right, and Christian Lindner.
Photographer: Michal Cizek/AFP/Getty Images
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France and Germany dug in their heels in a disagreement over how to make European Union countries rein in their indebtedness, highlighting the difficulties as the bloc tries to agree new fiscal rules by the end of the year.
The sticking point is whether all member states with excessive debt and budget deficits should have to make fixed annual reductions regardless of their individual economic situations.