German economy so strong that Berlin won't need to borrow in 2015

2014-09-09 25

German Finance Minister Wolfgang Schaeuble has revealed that the strength of his country’s economy means Berlin will not have to sell any new government bonds next year – something which has not happened since 1969.

Low unemployment levels and steady growth have produced record tax revenues, while falling interest rates have reduced the financial burden of servicing in Germany’s federal debt.

Schaeuble also said Germany had to continue to focus on stability policies: “Anything else would lead to a crisis of confidence,” he said.
“That’s the last thing we need in Europe in the current situation,” he added, referring to crises in Syria, Ukraine and Iraq as well as the Ebola outbreak in Africa.

During the debate in the lower house of parliament on next year’s budget, Schaeuble also stressed the only way for other eurozone countries to achieve sustainable growth is through lower deficits and debt.

with Reuters