FRANKFURT – It’s absurd to ask Germany’s government to spend more to bolster eurozone growth, German Central Bank President Jens Weidmann said on Thursday, rejecting growing pressure on Berlin to loosen its purse strings.
Speaking in the German capital, Mr. Weidmann said a fiscal stimulus program in Germany was unnecessary given the nation’s robust economy, and would have few positive effects for other countries anyway.
Earlier this month, European Central Bank President Mario Draghi joined the chorus of voices that have criticized Germany for reining in its spending at a time of weak economic growth.
‘Countries that have fiscal space should use it,’ Mr. Draghi said at a news conference. ‘Germany has fiscal space.’
This post was published at David Stockmans Contra Corner on September 30, 2016.
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