Schaeuble says Germany must stick to no new debt policy after 2017 election
Finance Minister Wolfgang Schaeuble speaks at a news conference on 2017 budget and financial plan till 2020 in Berlin, Germany July 6, 2016. REUTERS/Stefanie Loos
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Sunday it was important that Germany sticks to its fiscal policy of taking on no new debt after next year's federal election as it was necessary to reduce public debt.
In July government sources said Germany wanted to stick to plans for a balanced budget over the next four years and reduce its total public debt to less than 60 percent of gross domestic product in 2020 for the first time since 2002, meeting a criterion set out in the EU's Stability and Growth Pact.
(Reporting by Joseph Nasr; Editing by Michelle Martin)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pope warns media over 'sin' of spreading fake news, smearing politicians
- EU urged to share data better to detect militants returning from Syria, Iraq
- Wall Street set to open flat as investors test rally