
Germany's finance minister warned Friday against further debt-financed stimulus to spur global economic growth, as a G20 meeting of leading economies was set to begin in Shanghai, dpa reported.
"The debt-financed growth model has reached its limit," Wolfgang Schaeuble told an event hosted by the IIF global finance industry association.
More debt would cause further problems, he said, and further uncertainty "could bring on the next crisis."
In an interview with dpa this week, Schaeuble appealed to his counterparts to ride out recent economic turbulence.
"We have to stick to that which we've agreed to - and finally implement it," he said.
Volatility in major financial markets since the start of the year has troubled investors worldwide, with bank shares in particular suffering steep declines before recovering in recent weeks.
Finance ministers and central bank governors from G20 countries will be seeking to support the fragile global economy at their Shanghai meeting, China's official Xinhua news agency reported.
"This year, the G20 group is focused on adopting structural reforms to help economic growth in member countries," the Finance Ministry was quoted as saying.
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor