BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble warned
Tuesday that due to the slowing of the global and European economies,
Germany might be entering a difficult economic phase.
“Possibly we’re in a difficult phase of our economy,” Schaeuble
said in a speech in parliament. It will be a challenge to keep the
country on its sound economic path, he acknowledged.
“The economic situation is weakening,” the minister remarked. “That
is not only in Europe the case but worldwide.”
Still, Schaeuble downplayed the recent downgrading of France’s
sovereign rating by Moody’s, arguing that France’s rating “is still very
stable.”
Ahead of today’s Eurogroup meeting on fiscal aid for Greece,
Schaeuble said Eurozone finance ministers would “meet the challenge” to
come to a sustainable solution. “We will make every effort,” he vowed.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
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