Australia is beautiful, the hospitality impressive, “therefore the mood is good!” Wolfgang Schäuble brought a smile to his face when he said goodbye to the G20 finance ministers meeting in Cairns, Australia. The trip in the northeast of the continent was the longest mission in his tenure: More than 36 hours actual flying time does it take to come back from Berlin there and back
It excludes the Minister had with his happy conclusion. the underlying conflicts that emerged during his only 32 hour-long stay at the other end of the world: The leading industrialized and emerging countries are at odds about how the ailing global economy can be brought back to life. Schäuble and his colleagues be stated currently “weak growth” and “geopolitical risks.” – Meant, among other things, the Ukraine crisis
The ambitious goal of the G20
In order to support the economy, is the Abschlusserklärungdes meeting an ambitious goal: By 2018, the economy is expected to grow in the G20 countries by two percentage points more than previously predicted. 1.8 percentage points of additional growth we have thus achieved, according to the statement. Until the G20 Summit of Heads of State and Government in November and the rest will be done.
Specifically: infrastructure projects will bring the ailing global economy back into gear properly. The finance ministers and central bank governors adopted an infrastructure initiative to attract private investors in particular.
If the bill should ever agree – how will that work? The amounts of individual States are certainly very different.
Ahead of the meeting Schaeuble US-colleague had once criticized the German export surplus. The Germans should encourage with government stimulus funding demand in their own country. And the French finance minister said in Cairns you must It was a plea for more government spending and a slower pace of reform “adjust the pace of reforms, the situation in the country.” -., And a diplomatic packaged criticism of the German demand for sound fiscal policy
Schäuble focuses on women
Schäuble, has got his finances in order even without major effort, praised above all the necessity of structural reforms. He had let in writing at the top of the statement of appeal to the Cairns. Difficulties the Minister had then but to call convincing examples of such reforms in their own country.
If it goes to Schäuble, the growth in the world among other increases, more and more women are working, the parents money flexible, and Flexi-pension is introduced. Even the renewable energy law, which the German economy still complains, it occurred to him. Together with investment in research and infrastructure have “all my colleagues gives the impression that we fulfill our commitment,” said Schäuble.
Bundesbank President Jens Weidmann allowed himself pointing out that “even the omission of some measures “could be, referring to the retirement age to 63 This is” growth-promoting counterproductive “
div class =>”. “: Decision of the G20
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