BERLIN (MNI) – European Union Budget Commissioner Janusz
Lewandowski warned in a newspaper interview published Monday against
overly stringent deficit cutting by EU member states.
“I’m worried that a policy of overdrawn consolidation could lead to
a deflation,” Lewandowski told German daily Tagesspiegel. The
Commissioner said he regretted that in times of crisis public
investments were cut too often while social spending remained the same.
Lewandowski also warned that highly-indebted Greece needed to be
able to finance investments in order to create economic growth and be
able to repay its debt.
The euro crisis is not yet over even though the situation is
somewhat more stable at the moment, the Commissioner reckoned. “There
still lurks a contagion of the Greece disease to other countries,” he
cautioned.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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