Germany Opposes Any G-20 Fiscal Stimulus; Focuses on Reform
- Schauble's stance sets up potential for conflict at G-20
- Says cheap oil prices are already a `huge' boost to demand
With G-20 Underway, What Do Leaders Need to Do?
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Germany’s finance minister opposed any fiscal stimulus plan from the Group of 20, whose top economic officials gather Friday, and instead sought to focus on structural reforms to strengthen national growth rates.
Wolfgang Schaeuble, speaking hours before meeting with his counterparts from the G-20 developed and emerging markets, also said that the space for monetary policy has been exhausted. He warned that using debt to fund growth just leads to "zombifying" economies.