Merkel rules out tax cuts 'in foreseeable future'
Chancellor Angela Merkel on Monday ruled out tax cuts in Europe's biggest economy "in the foreseeable future" following a heavy defeat in a key state election at the weekend.
"[In] my view no tax cuts will be possible in the foreseeable future," Merkel told reporters, adding that this meant "at least two years -- the budgets for 2011 and 2012." Her current term runs until 2013.
© 2010 AFP