Germany Abandons Push for G-20 Monetary Policy Restraint
- Officials failed to introduce stronger language into document
- Germany is promoting ‘resilience’ in G-20 presidency
A Soviet-era submarine tourist attraction sits moored at Hamburg port in Hamburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany has abandoned a renewed effort to push the Group of 20 to rein in monetary stimulus, according to people familiar with the matter.
German officials failed to convince counterparts that the G-20 should support language backing tighter monetary policy to promote global financial resilience, the people said, asking not to be named because the discussions are private. Germany had drafted it in a document as part of its presidency of the group this year, and will host finance chiefs next month in the spa town of Baden-Baden.