News from Berlin

German Economy Minister Backs Germany’s Economic Goals

October 23rd, 2014
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News From Berlin - The German Economy Minister Sigmar Gabriel made a visit to Washington to discuss and back up Germany’s economic plans as US Treasury Secretary Jacob Lew called on Germany to boost public spending to stimulate the declining eurozone growth.

Gabriel met with Lew to discuss economic plans. According to the Department, Lew "emphasized the importance of strengthening public investment, and urged German and other European leaders to boost domestic demand as part of an appropriate fiscal, monetary, and structural policy mix." He also expressed the need for robust measures to rebalance the global economy and promote growth.

Gabriel backed up German plans and expressed Germany’s economic goals, with an emphasis on Berlin’s goal to create European growth and attract more private investment. He stated that, apart from the adjusted focus on private investment, Germany sees “no reason to abandon or change our economic or fiscal policy.” He also reiterated Germany’s aim to create a budget for 2015 without incurring new debt and the plan that has been drafted to provide 18 billion Euros in investment in areas such as infrastructure and education.

The two officials also discussed various other issues, and agreed on the importance of a united front between the United States and the European Union, for instance with the sanctions against Russia regarding the situation in Ukraine. All of these discussions evidence dialogue and exchange between Germany and the United States, as well as the EU and the US.

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