Weber urges spending cuts by German govt

In his first speech as Bundesbank president, Axel Weber urged the German government to cut spending and push ahead with key reforms to prioritise reining in the fiscal deficit below the 3-pct-of-GDP limit set by the EU stability and growth pact.

Read Axel Weber's speech at his official inauguration as Bundesbank President

"Today's budget gaps would be significantly smaller had the government estimated its revenues more conservatively and pursued its expenditure consolidation targets more rigoro

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