Dr. Thomas Steffen is State Secretary at the Federal Ministry of Finance (deputy finance minister)
Comments from him in the Ministry's Monthly Report,
- Global debt is at unprecedented levels and has recently increased further
- Asset prices like equities and real estate are also rising
- The combination of high debt and high asset prices could become a risk for financial stability and the economy
- Steffen wants to "use favorable economic climate to "make sufficient preparation and build a buffer for the bad times"
Its not unusual for German officials to want to wind back stimulus.
EUR unmoved.
