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Germany sticks to economic policy despite French appeal

Reuters/Pascal Rossignol
2 min

The German government said that it will not modify its European economic policy. This comes in response to French President François Hollande’s call on Monday that Germany should do more to boost economic growth in Europe.

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In an interview given to the French newspaper Le Monde, Hollande asked Germany for a “stronger support of growth”.

On Wednesday the German government reacted. Government spokeswoman Christiane Wirtz said: “There is no reason to make any corrections to [our] economic policy.”

She added that Germany was already the “biggest growth engine in the eurozone”.

The French President cited Germany’s “excellent trade surplus” as a reason it can do more to boost growth.

He said countries like Germany could “support consumption and demand, raise wages, and invest more”. This would help Europe and France, he said.

According to AFP, the German government, which is a coalition between conservatives and social-democrats, has promised to spend more on infrastructure and education, but continues strict financial controls in order to meet its federal budget for 2015.
 

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