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Wolfgang Schauble, Germany's finance minister, speaks during the Institute of International Finance G-20 Conference in Shanghai on Feb 26, 2016. [Photo/CFP] |
Wolfgang Schaeuble, German finance minister
The debt financed growth model has reached its limits. ... It is even causing new problems, raising debt, causing bubbles and excessive risk taking, zombifying the economy.
Monetary policy is extremely accommodating, to the point that it may even be counterproductive in terms of negative side effects.
Fiscal as well as monetary policies have reached their limits - if you want the real economy to grow there are no shortcuts without reforms.
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