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Finance Minister Schaeuble: Germany needs to maintain positive economic environment

Germany must ensure that its economy remains stable and dependable without taking on new debt, Finance Minister Wolfgang Schaeuble said on Tuesday, three months before an election in Europe’s largest economy.

“The federal election is about how best to achieve a stable and dependable economic environment,” Schaeuble told an economic summit of his conservative Christian Democrats.

He added: “We need to make sure the state remains effective without consuming a greater share of output”.


Turning his attention to Europe, Schaeuble said Britain’s decision to leave the European Union and the election of Donald Trump as U.S. president were some of the biggest challenges facing the continent.

He added that if Europe failed to foster stability in Africa, the European Union would face a migration crisis bigger than that experienced in 2015, when more than one million migrants arrived on its shores.