Increasing tax revenue in Germany means a balanced budget could be reached in 2014... if costs don't spiral under a new coalition, that is.
The SPD leader has denied that his party has been "sulking" since its historically bad election result. The SPD, CDU and CSU are to meet on Wednesday for preliminary talks over a renewal of their "grand coalition."
Mario Centeno has been elected as the new Eurogroup president, with the finance ministers praising him for his balancing act between growth and budget discipline that earned him a comparison with football star Ronaldo.
Germany's Social Democratic leader Martin Schulz has revealed that European leaders are urging him to join Angela Merkel's conservatives in a grand coalition government. The SPD has said it will not rush to a decision.
Coalition talks may be stalling, but the new German parliament is still getting on with its day-to-day business. Cities and states are also pressing on with their work — but make it clear they want a coalition soon.
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