Germany’s Gabriel says EU break-up no longer unthinkable

German Economy Minister Sigmar Gabriel addresses a news conference in Berlin Germany, December 19, 2016. REUTERS/Fabrizio Bensch

 

Germany’s insistence on austerity in the euro zone has left Europe more divided than ever and a break-up of the European Union is no longer inconceivable, German Vice Chancellor Sigmar Gabriel told Der Spiegel magazine.

Gabriel, whose Social Democrats (SPD) are junior partner to Chancellor Angela Merkel’s conservatives in her ruling grand coalition, said strenuous efforts by countries like France and Italy to reduce their fiscal deficits came with political risks.

“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?” he said, referring to the leader of the far-right National Front.

Asked if he really believed he could win more votes by transferring more German money to other EU countries, Gabriel replied: “I know that this discussion is extremely unpopular.”

“But I also know about the state of the EU. It is no longer unthinkable that it breaks apart,” he said in the interview, published on Saturday.

“Should that happen, our children and grandchildren would curse us,” he added. “Because Germany is the biggest beneficiary of the European community – economically and politically.”

Full article: Germany’s Gabriel says EU break-up no longer unthinkable (Reuters)

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