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7/19, 11:23 AM (Source: TeleTrader)
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Merkel blames trade war for slowdown in Germany

German Chancellor Angela Merkel told reporters on Friday that the government would maintain efforts to keep the budget balanced as the appropriate policy. Commenting on glitches in the economy, with growth waning, she said it makes the case for fiscal stimulus and attributed the turbulences to trade tensions in the world and the related uncertainty. The country's leader expressed hope that the United States and China would come up with a solution.

Furthermore, the World Trade Organization needs to be reformed, in her view. Turning to climate change mitigation, Merkel supported the system of carbon-dioxide certificates but also stressed the social impact must be considered. The government is due to roll out a package of measures within two months.

Breaking the News / IT