Reuters: US Dollar Report: German govt wants fiscal pact approved by summer

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German govt wants fiscal pact approved by summer Mar 28th 2012, 12:14 BERLIN, March 28 | Wed Mar 28, 2012 8:14am EDT BERLIN, March 28 (Reuters) - The German government rejected on Wednesday suggestions from opposition parties that a parliamentary votes on the euro zone's new fiscal discipline pact be delayed, saying it should be approved in tandem with the bloc's new bailout mechanism before the summer recess. "In the view of the government, the fiscal pact and the ESM (European Stability Mechanism) will be decided before the summer break," government spokesman Steffen Seibert told a regular news briefing. The centre-left Social Democrats (SPD) and Greens, whose support Chancellor Angela Merkel needs to get the required two-thirds majority in parliament for the fiscal pact, say the government's plan to get both it and the bailout facility approved in June is overly ambitious. They want more growth-oriented measures to complement the common currency area's belt-tightening policies and have suggested the vote on the pact be delayed beyond the summer, possibly to coincide with a separate vote in France.

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