News from Berlin – US Treasury Secretary Jack Lew met German Finance Minister Wolfgang Schäuble for a bilateral meeting in Berlin on June 19th. The wide range of topics were discussed, such as the current Ukraine crisis, transatlantic relations and the upcoming German G7 presidency.

In a joint conference the two officials also praised the closeness of their relationship and their strong cooperation in several key policy areas. With regard to the issue of Europe, Schäuble emphazised the success of EU institutions in warding off uncertainty in the Eurozone.

Since the Financial Crisis in 2008, the EU member states have suffered from continuous market headwinds, which peaked in 2012 as investors feared a Greek default. But thanks to the robust guidance of Germany, the EU monetary union has successfully weathered through the crisis.

In addition, Schäuble thanked his US counterpart for supporting the upcoming German G7 presidency. He notably stated his desire to use the German leadership of the organisation to advance cooperation in the areas of bank regulation, tax evasion and sustainable growth.

The G7 is a group of countries made of finance ministers and central bank governors of seven advanced economies, including: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Germany is set to preside the group over the 2015 calendar year.

News from Berlin – Berlin Global