Thursday, October 20, 2011

Bundestag stays Merkel’s hand on eurozone

Financial Times
October 20, 2011

Sweeping new rules requiring the approval of the German Bundestag for measures to deal with the eurozone crisis forced Angela Merkel, the chancellor, to plead for more time on Thursday to negotiate a comprehensive package in Brussels.

The chancellor abandoned her intended speech to the parliament, set for Friday, when it became clear she would be unable to give full details of the negotiations to enable members to debate the plans.

Angry parliamentarians demanded more information before they would agree to give the chancellor a negotiating mandate for Sunday’s European Union and eurozone summits.

Refusal to give the chancellor a such a mandate would prevent her finalising the measures, a senior Bundestag member said. “There would be no point in her going” to the summit, according to a government official.

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