German gov't approves plan for 0-borrowing budget - New York News | NYC Breaking News
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BERLIN (AP) — German Chancellor Angela Merkel's Cabinet has approved a draft budget plan that foresees the government getting by without new borrowing in 2015.
The draft passed Wednesday foresees a structurally balanced budget next year, with net new borrowing of €6.4 billion ($8.4 billion) — down from €17.1 billion in 2013. New borrowing is supposed to sink to zero in 2015 and in subsequent years.
Total spending is set to sink to €296.9 billion next year, a 1.7 percent decline from this year's level of €302 billion.
Finance Minister Wolfgang Schaeuble says Germany is showing that economic growth and tackling deficits aren't mutually exclusive. He says the Cabinet wanted to approve the plan before this week's EU summit and send a "strong signal for Europe."
Copyright 2013 The Associated Press.
The driver of a vehicle that crashed into a grocery store on 2nd Avenue and East 4th Street in the East Village on Wednesday morning has been arrested. The car jumped the curb before mowing down a tree, light post, fire hydrant and injuring six people.
The driver of a vehicle that crashed into a grocery store on 2nd Avenue and East 4th Street in the East Village on Wednesday morning has been arrested. The car jumped the curb before mowing down a tree, light post, fire hydrant and injuring six people.
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
One bird may have been responsible for several hundred Hoboken residents losing power.
One bird may have been responsible for several hundred Hoboken residents losing power. A spokeswoman for Public Service Electric & Gas says the bird touched a transformer on Clinton Street near Columbus Park Wednesday morning.
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