Fabrizio Bensch

Conservative leader and Chancellor-designate Angela Merkel smiles as she addresses a news conference following the second round of coalition talks with the Social Democrats at her headquarters in Berlin October 24, 2005. The new German government will have to find 35 billion euros ($41.80 billion) in extra revenues and savings to meet European Union budget rules by 2007, political leaders said on Monday. It would be the biggest budget consolidation ever attempted by a postwar German government. We are facing enormous challenges, Merkel said following talks on forming a power-sharing coalition with the Social Democrats (SPD).


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