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."
Wednesday, June 19 2013 8:03 AM EDT2013-06-19 12:03:45 GMT
A car crashed into a building on 2nd Avenue and East 4th Street in the East Village on Wednesday morning. At least eight people are injured. Three victims are in serious condition, according to FDNY officials.
A car crashed into a building on 2nd Avenue and East 4th Street in the East Village on Wednesday morning. At least eight people are injured. Three victims are in serious condition, according to FDNY officials.
Wednesday, June 19 2013 7:07 AM EDT2013-06-19 11:07:13 GMT
Photo courtesy of @N42_21_W71_04)
Riders should anticipate some changes but "near normal" service on the Long Island Rail Road for the morning rush.
Riders should anticipate some changes but "near normal" service on the Long Island Rail Road for the morning rush. Crews have been working to repair tracks and switches after Monday's derailment.
Wednesday, June 19 2013 6:12 AM EDT2013-06-19 10:12:52 GMT
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion...
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion proposal...
Wednesday, June 19 2013 6:07 AM EDT2013-06-19 10:07:22 GMT
NYC
Nearly 3 million New Yorkers' homes are now in evacuation zones that cover more than a third of the city's population, under new maps released Tuesday.
Nearly 3 million New Yorkers' homes are now in evacuation zones that cover more than a third of the city's population, under new maps released Tuesday.In the wake of Superstorm Sandy, officials said last month, the number of zones would double and encompass about 600,000 more residents.
Tuesday, June 18 2013 9:50 PM EDT2013-06-19 01:50:52 GMT
FDNY photo via Twitter
Emergency responders rescued a worker who was trapped when a trench collapsed Tuesday evening at a Queens construction site that was supposed to be closed.
Emergency responders rescued a worker who was trapped when a trench collapsed Tuesday evening at a Queens construction site that was supposed to be closed.
Tuesday, June 18 2013 8:34 PM EDT2013-06-19 00:34:07 GMT
It's a sight that can trigger dread. The low-battery message appears on your cell phone when there's no charger around.
It's a sight that can trigger dread. The low-battery message appears on your cell phone when there's no charger around. Now New York City has teamed up with AT&T to install 25 solar powered charging stations over the summer.
