Economics
U.S.-Style Fiscal Boost Isn’t Answer for Europe, Weidmann Says
- Bundesbank president is optimistic on EU-aid court challenge
- Sees swift recovery after pandemic restrictions are lifted
Jens Weidmann.
Photographer: Peter Juelich/BloombergThis article is for subscribers only.
Europe has enough fiscal stimulus to rebound from the pandemic and shouldn’t look to the massive U.S. package as a model, according to Bundesbank President Jens Weidmann.
The central banker, who sits on the European Central Bank’s Governing Council, told reporters he is “optimistic” European Union member states will ratify their 750 billion-euro ($880 billion) joint recovery fund. Germany’s top court has blocked the nation’s government from authorizing participation while it assesses a legal challenge.