Despite a rising political backlash against austerity in Europe, there is limited common ground among euro zone leaders for a growth pact to complement their fiscal discipline efforts.
Germany on Monday rejected any reopening of the fiscal pact reached last year that France’s Francois Hollande has pledged to roll back. The new Socialist president-elect’s other ideas for common euro zone bonds and pro-growth intervention from the European Central Bank also have been nonstarters.
Full story: Political, Fiscal Limits Hinder European Growth Pact