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. Continue reading