German Finance Minister Olaf Scholz has expressed readiness to plow billions into the German economy if necessary. There are concerns afoot of a recession.
In her inaugural speech in Washington, IMF managing director Kristalina Georgieva pushed for a coordinated effort to fight the sluggish global economy, calling Germany to do its part and start spending more.
German Finance Minister Olaf Scholz has been mulling an economic stimulus package, should Europe's largest economy slide into a full-blown recession. It would mark a departure from a policy of balanced annual budgets.
Scholz rebuffed an International Monetary Fund complaint that Germany was not doing enough to stimulate the world economy. The center-left politician is an advocate of his predecessor's "black zero" policy.
Germany's finance minister said failure to secure a "convincing solution" may risk government stability. Chancellor Angela Merkel has called on the private sector to take up the "Herculean task" to combat climate change.
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