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Saturday, August 27, 2011

Schaeuble warns coalition MPs to back EFSF reforms

Schaeuble also said he was optimistic that the coalition would get its own majority for the EFSF measures and not have to rely on backing from the center-left opposition of Social Democrats (SPD) and Greens.

"I'm confident that we'll get a broad majority -- not only in parliament but also in the coalition," he said.

Schaeuble also acknowledged that it was sometimes hard to keep pace with the developments in the sovereign debt crisis and that the conditions made it difficult at times to always come up with the right remedies at the right time.

"It's true that we are running a bit behind the developments at the moment," he said, adding the national governments have a somewhat limited influence on events in the age of globalization. There is no comprehensive maker of global rules, he said.

That is why the various national interests have to be brought together and that is "an incredibly laborious process."

Separately, a leader of the Greens opposition party rejected the idea of postponing the vote from September 23 to September 29 because the Pope will be visiting Germany. A coalition source said on Thursday parliament might postpone the vote.

"Anyone who thinks they have to postpone the vote on the urgently needed measure to be part of the Pope's fan community has failed to understand how dire the situation is," said Juergen Trittin, the Greens' parliamentary floor leader.

Source: http://ca.reuters.com

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