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Germany sees balanced budget in 2012

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Germany said Monday it will balance its budget two years earlier than expected as its relative resilience to the debt crisis has enabled it to enjoy higher tax revenues and lower financing costs. 

Germany's Chancellor Angela Merkel (left) speaks with Greece's Prime Minister Antonis Samaras in October 2012 in Athens. Germany said Monday it will balance its budget two years earlier than expected as its relative resilience to the debt crisis has enabled it to enjoy higher tax revenues and lower financing costs.

In a statement, the German finance ministry said it expects to reach a balanced budget in 2012, not 2014 as envisaged earlier this year.

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