– by Gernot Heller Cairns (Reuters) – The G20 want the last bit sluggish global economy helping hand, and Germany will play its part. “We have the ability to change the fortunes of the global economic development”, the Australian Treasurer Joe Hockey said on Saturday at the start of the G20 meeting of finance ministers and central bank governors in Cairns. German Finance Minister Wolfgang Schaeuble pled according to data from the German delegation explicitly to the goal by 2018 to two percent increase global growth beyond what is as yet unclear. Schäuble warned however against the risks of the current monetary and fiscal policies. He called to strive for even sound all households in growth promotion. The only way one could remain effective in the event that risks, such as the Ukraine crisis, reality would. Hockey stressed that he had no doubt that the G20 their signal output growth target is reached. According to data from the German delegation are from the 20 emerging and industrialized countries (G20) 950 measures to strengthen growth been announced. If implemented, they would already bring an extra growth of 1.8 percent. Until the G20 Summit of Heads of State and Government in November in Brisbane, Australia, and the remaining 0.2 percent are to be covered. The people will bring more jobs, promised Hockey. Schäuble REMAINS OF Mahner The German finance minister, however, warned again that sustainable growth can only succeed on the basis of structural reforms and growth-friendly fiscal consolidation. In the highly expansionary monetary policy, he sees clearly the danger that could build up in the medium to long-term risks for speculative price bubbles in the stock and real estate markets. In addition, could take the pressure for reform of the country such a policy, the minister warned according to data from the delegation. Ahead of the meeting had just it to the USA again receivables Germany, where, to do more to boost demand in their own country in order to strengthen even as global growth. Germany refuses, however. Germany’m already doing enough, Schäuble argued for days. Background of the recent debate is that the global growth expectations have deteriorated by the crises in Ukraine, the Middle East and the Ebola epidemic in recent weeks. The growth outlook for Germany deteriorated slightly. Continued …
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