BERLIN (MNI) – German Economics Minister Philipp Roesler warned in
a newspaper interview published Monday that the Eurozone debt crisis is
increasingly weighing on the German economy.
“Many firms become more cautious and hold back orders,” Roesler
told the German daily Bild.
The head of Germany’s metal-working and engineering industry
association Gesamtmetall, Martin Kannegiesser, said last week that
investment in the important sector was being postponed due to the
uncertainties from the debt crisis.
Germany cannot be isolated from the crisis in the rest of Europe
over the long run, Kannegiesser said: “Sooner or later we will feel the
crisis even stronger. This moment is getting closer.”
Roesler warned in the Bild interview that the Eurozone should not
overburden Germany in its effort to overcome the debt crisis. The
minister urged member states to do more on their own to get their public
finances in order and regain more economic competitiveness.
Roesler, who is also vice chancellor and head of the FDP, the
junior partner in Chancellor Angela Merkel’s government coalition, said
he expected the coalition to last for the full legislature until autumn
2013 despite some tensions.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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