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00:00:01
>> After months of battling to reach a coalition deal, German Chancellor Angela Merkel is now under fire again. This time from within the ranks of her own party. In Berlin I'm Reuters chief correspondent Paul Carrol. Already today, just one day after Merkel and Germany's Social Democrats reached this coalition deal, she's getting flack from within the ranks of her own party.
00:00:23
Some, more than one lawmaker unhappy with the fact that she's given up the very powerful Finance Ministry to the Social Democrats in order to achieve this deal. Under their coalition agreement, the Social Democrats also held on to the Foreign Ministry, the Labor Ministry, the Justice Ministry and a number of other portfolios.
00:00:41
And in fact, the mass selling Bilt newspaper has big headline on its front page this morning saying Chancellor at any price, Merkel gifts the SDP the government. However, if you look down and drill down at the substance, the SPD have not got all the concessions that they wanted on health insurance and employment law for example.
00:01:02
And this government is still going to be quite fiscally conservative, they are gonna spend more money, but they're not going to start running up a deficit. However, Germany is enjoying robust economic growth. They plan to spend 46 billion euros beyond what was already agreed over the coming four years, rest of Europe has been pressing Germany to open its wallet, the German government, and spend more money.
00:01:24
And they are doing that now. And in fact Martin Schulz leader of the SPD who is likely to become Foreign Minister saying this is an end of austerity in Europe. Europe really is the big area where the coalition parties are stamping that brand on this coalition agreement. They’re ready to spend more German taxpayers' money on the European Union.
00:01:46
They also want to turn the ESM bailout fund into a European monetary fund. They want to boost cooperation with France on areas also including researching artificial intelligence. And to the east they want to repair, straighten ties with Poland, so if there's one big beneficiary from this coalition deal, it's Europe.