German attitude to austerity ‘won’t change’

There will be no change to the German approach to the resolution of the eurozone crisis if the CDU/SPD parties form the next government, according to Financial Times’ associate editor, Quentin Peel.

“The new government will be firmly committed to the euro. However, like the previous government under Merkel, it will be pro-euro but its priority will be to defend the German taxpayer,” Mr Peel told an audience at the Institute of International and European Affairs (IIEA) in Dublin.

There is a looming flashpoint on a key piece of EU legislation, he added. The SPD is in negotiations to form the next government with the incumbent CDU chancellor, Angela Merkel. Talks are scheduled to conclude by mid-December.