Greek Finance Minister Tells Merkel: It’s Time to Spend More
- Tsakalotos says Germany should harness low interest rates
- Germany’s current-account surplus among world’s biggest
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Greek Finance Minister Euclid Tsakalotos urged Germany to take advantage of record-low borrowing costs and invest more to spur the economy, saying Europe should seize the chance to modernize its infrastructure.
“It just cannot be the case that in Germany, for instance, there are not a lot of projects with net present value when we have almost zero interest rates,” Tsakalotos told an economic conference in Brussels on Thursday. “If Europe doesn’t invest now, in 20 years, when we hope interest rates will be higher because we’ve returned to growth, they will regret that in the period of low interest rates they didn’t.”