The FINANCIAL — The German government Monday said it is confident that a broad two-thirds majority of coalition and opposition parties will be achieved to pass the European fiscal pact.
Steffen Seibert, the government spokesman, said passage of the fiscal pact and the creation of a European stability union is in Germany's interest.
"That's why the government is very confident this broad initiative consisting of solidity, solidarity and growth will also be supported in the future by a broad multiparty majority and therefore that the required two-thirds majority will approve the fiscal pact," Seibert told a routine government news conference.
According to Borsa Italiana – London Stock Exchange Group, the fiscal pact, which establishes strict budget targets and increased European oversight of euro-zone budgets, was signed March 2 by leaders of 25 of the 27 European Union member states.
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