–But Crisis Can Only Be Overcome By Governments
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble will
stress at the upcoming IMF/World Bank gathering in Tokyo this week that
the Eurozone debt crisis cannot be solely overcome by monetary policy
measures, a senior ministry official said Wednesday.
“One can indeed influence the crisis with monetary policy,” the
source acknowledged. Yet, the crisis can only be really overcome by
medium- and long-term fiscal and structural reforms in the Eurozone
member states, he stressed.
This will be Schaeuble’s “main message” at the IMF gathering, the
official said.
Moreover, the minister will underline the need not to discuss only
Europe’s woes at the IMF meeting. The problems of the US, Japan and the
BRIC states need to be also looked at, he said.
Schaeuble will seek to explain at the meeting how complex the
Eurozone crisis is and what steps have already been undertaken to
get it under control, the source said.
By explaining the Eurozone’s crisis strategy, the minister hopes to
win back confidence of international investors in the Eurozone, the
official said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
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