UK Chancellor Says British and German Economies Heart of Europe

The British and German economies are the “beating heart” of Europe, George Osborne has said as he heads to Berlin for talks on reforming the EU.

The Chancellor will meet German finance minister Wolfgang Schaeuble to set out more details of the UK’s bid to renegotiate its EU membership.

Securing German backing is important for the success of British attempts to get changes in key areas.

David Cameron has already courted support from Chancellor Angela Merkel.

Ahead of a private dinner with his German counterpart later on Monday, Mr Osborne said: “The UK and German economies are the beating heart of Europe, the engine for growth and jobs.

“Together we make the world’s third-largest economy, behind only America and China, and since the crisis ended, we have generated two-thirds of EU growth.

“But the future holds challenges for our economies. We must cut debt and boost productivity. To do this, we need a strong EU, fit for today’s challenges and working for the benefit of all 28 member states.

“The UK’s reform and renegotiation plans aim to achieve this, which is why these talks with key partners in Europe are so important.”

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza