Bickering over the European Budget

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By Trey Thoelcke Published
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The latest report about how Europe’s nations will be bailed out, what the role of the International Monetary Fund will be, whether Germany will block plans that cost its taxpayers too much, and the role of the United Kingdom in proceeding toward a comprehensive solution to these problems has scuttled hope that resolutions are just around the next corner.

It has been rumored recently that Spain will receive a partial bailout and that this will trigger European Central Bank purchases of its sovereign paper. This will in turn bring down the rates Spain must pay to raise money in the capital markets.

The latest bickering is between Germany and the U.K. Britain’s role in most of the big issues of recasting the finances of the region has been limited until now. The Financial Times reports:

Germany is planning to warn Britain that it will seek to cancel next month’s European budget summit if David Cameron, the prime minister, insists that he will veto any deal other than a total freeze on spending.

Angela Merkel, Germany’s chancellor, does not believe there is any point in holding the budget summit to agree on a seven-year framework for EU spending if Britain intends to veto any deal, say people close to the negotiations.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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