Economy

xchrom

(108,903 posts)

30. Germany Rejects Obama's Criticism in Euro Crisis

Tue Jun 26, 2012, 08:33 AM

Jun 2012

http://www.spiegel.de/international/europe/german-finance-minister-rejects-obama-criticism-of-crisis-management-a-840749.html

German Finance Minister Wolfgang Schäuble rebuffed recent criticism of Germany's handling of the euro crisis from Barack Obama, telling the US president to get his own house in order before giving advice.

"Herr Obama should above all deal with the reduction of the American deficit. That is higher than that in the euro zone," he told German public broadcaster ZDF on Sunday night. It is easy to give advice to others, he added,
Obama, worried about the impact of the debt crisis on the global economy and financial markets -- and on his own prospects for re-election --has been urging Europe to step up its efforts to tackle the problem.

In the interview, Schäuble also reiterated his opposition to euro bonds, saying countries must remain individually liable for their public debt as long as they were taking sovereign decisions on how the money was being spent.

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