Skip to content
Subscriber Only

Deregulating Financial Markets Was ‘Stupidity,’ Says Schaeuble

Wolfgang Schaeuble on Sept. 3.

Wolfgang Schaeuble on Sept. 3.

Photographer: Michael Kappeler/picture alliance via Getty Images

Known for his resolute fiscal discipline during the euro crisis, Wolfgang Schaeuble made an unusual plea to tame market forces, saying that deregulation before the financial crisis was a "stupidity."

"The motto was deregulation, deregulation, deregulation, until everything blew up," he said. "Freedom needs restrictions."