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8 Jan 2014
US's Lew praises German government for promoting domestic investment
FXstreet.com (Łódź) - On Wednesday US Treasury Secretary Jack Lew held a joint press conference with German Finance Minister Wolfgang Schaeuble in Berlin, during which he praied Europe's progress in overcoming the crisis in the banking sector and Germany's decision to boost domestic spending.
“Over the course of this past year, I think we’ve seen very constructive movement to get the balance right between fiscal consolidation and growth,” Lew said “We can continue to discuss where that balance should be, but it’s moved in the right direction, from our perspective.”
The German Finance Minister assured that it was important for Germany to see the US economy strengthening. He also stressed the need of preventing the formation of asset bubbles.
"We must keep a watch on liquidity levels to ensure new bubbles aren't being created," Schaeuble said, adding however that monetary policy should be established by central banks, not politicians.
“Over the course of this past year, I think we’ve seen very constructive movement to get the balance right between fiscal consolidation and growth,” Lew said “We can continue to discuss where that balance should be, but it’s moved in the right direction, from our perspective.”
The German Finance Minister assured that it was important for Germany to see the US economy strengthening. He also stressed the need of preventing the formation of asset bubbles.
"We must keep a watch on liquidity levels to ensure new bubbles aren't being created," Schaeuble said, adding however that monetary policy should be established by central banks, not politicians.
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