Euro fudge

Article Abstract:

German fiscal policy will show the government's willingness to achieve strict Maastricht targets for European monetary union (Emu). The deficit may not be reduced to 3% but to some 3.25%, which indicates that Emu will be carried out as scheduled in 1999 with more countries joining. France may seek greater flexibility if Germany does not reduce its deficit to 3%, and France may not seek to cut its own deficit. Greater flexibility is likely to lead to more convergence between the German and peripheral European bond markets, especially those of Italy and Spain.

Legislative Bodies, Budget, Western Europe, Monetary unions

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Germany: higher threshold

Article Abstract:

German consumption should be boosted by a change in tax thresholds, according to Lehman Brothers. A German court has ruled that incomes below subsistence should not be taxed. The government has increased the tax threshold for single people and this will reduce the tax burden, boosting consumption to an estimated 2.25% in real terms in 1996 compared with 0.5% in 1995. The German federal budget deficit is likely to be swollen by these fiscal changes.

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The restructuring of a nation

Article Abstract:

The reunification of Germany has led to an economic burden and more than 10% of the German work force is unemployed. There have been ownership complications and environmental problems relating to companies in eastern germany. A tax has been imposed to help fund reunification, and this is resented in areas in western Germany where unemployment is high. Unemployment in Germany as a whole is more than 10%, rising to 25% in eastern Germany.

Economic aspects, German reunification question (1949-1990)

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