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Schaeuble Seeks to Explain Europe as Lew Urges More Demand

German Finance Minister Wolfgang Schaeuble sought to “explain” Europe to Jacob J. Lew, as the new U.S. Treasury Secretary prodded Germany to spur consumer demand.

Lew, in his first visit to Berlin since taking office Feb. 28, said that the U.S. and Germany shared the same stance on a commitment to economic growth and to “fiscal discipline,” while stressing at a joint press conference with Schaeuble today that the U.S. seeks to balance the two to maintain the recovery.