Dem's economic strategy not working for old Europe
High taxes and high services has led Germany into the same stagnation as France.
"Germany will join France in breaking European Union budget rules for a third year in 2004, Finance Minister Hans Eichel said on Thursday, as the government raised its 2003 borrowing goal and slashed its growth forecasts.
". . .Economy Minister Wolfgang Clement said the government cut its 2003 growth forecast to zero from 0.75 percent and expected Europe's largest economy, emerging from its second recession in as many years, to expand between 1.5 and 2.0 percent in 2004.
High taxes and high services has led Germany into the same stagnation as France.
"Germany will join France in breaking European Union budget rules for a third year in 2004, Finance Minister Hans Eichel said on Thursday, as the government raised its 2003 borrowing goal and slashed its growth forecasts.
". . .Economy Minister Wolfgang Clement said the government cut its 2003 growth forecast to zero from 0.75 percent and expected Europe's largest economy, emerging from its second recession in as many years, to expand between 1.5 and 2.0 percent in 2004.
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