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在线翻译:
szdaily -> World Economy -> 
Merkel forced to postpone stimulus plans
    2020-06-04  08:53    Shenzhen Daily

GERMANY’S Chancellor Angela Merkel failed to broker a deal on a stimulus package Tuesday, delaying plans to spend as much as 100 billion euros (US$110 billion) to reinvigorate the country’s faltering economy.

The ruling coalition of her Christian Democratic-led bloc and the Social Democrats didn’t reach an agreement after nine hours of talks in Berlin. The parties will reconvene today, according to a person close to the discussions.

After a brief period of unity at the height of the coronavirus crisis, party differences have resurfaced to burden the negotiations. The Social Democrats were pushing for higher spending and measures focusing on workers and families, while the Christian Democratic Union is keen to limit the amount of new debt and get businesses investing again.

After an initial shot of stimulus in March, Merkel’s administration has vowed to spend whatever it takes to get the country growing again. Including programs to guarantee company liquidity, Germany has made more than 1.2 trillion euros available.

The stimulus package could represent the last major spending initiative before elections late next year, meaning stakes for the ruling parties are high.

The Social Democrats have been in crisis ever since reluctantly agreeing to enter the coalition two years ago, while the conservative bloc faces its first national campaign in nearly two decades without Merkel, who has said she will leave politics when her current term ends.

The Christian Democratic Union has been bolstered by Merkel’s leadership in the pandemic, with support in the polls climbing to 40 percent compared with the Social Democratic Party of Germany’s 15 percent — roughly on par with the Greens.

Despite disputes over how to shore up Germany’s economy, the parties agree that a package is needed to help consumers and businesses. (SD-Agencies)

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