Germany’s insistence on fiscal discipline may lead to EU break-up: Gabriel

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‘Germany’s Vice Chancellor Sigmar Gabriel has warned that Chancellor Angela Merkel’s increasing pressure on the European Union countries to maintain their fiscal discipline could widen divisions in the EU and lead to its imminent collapse.

“I once asked the chancellor, what would be more costly for Germany: for France to be allowed to have half a percentage point more deficit, or for Marine Le Pen to become president?” Gabriel said in an interview published on Saturday in Der Spiegel magazine, adding, “Until today, she still owes me an answer.”

Gabriel, the head of Germany’s Social Democrats Party (SPD) and a partner to Merkel’s conservatives in her ruling grand coalition, said Germany’s insistence on austerity in the euro zone has left Europe more divided than ever, putting the 28-member bloc at the risk of a real break-up.’

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