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French economics minister calls Germany to boost investments

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Staff Writer | February 14, 2017
French Minister for the Economy and Finance Michel Sapin has dismissed a U.S. attack on Germany’s trade surplus, but urged Europe’s biggest economy to boost its spending on investment.
Michel Sapin
Economy in Europe   "The U.S. attack is meaningless"
In an interview promoted by Handelsblatt, Sapin brushed aside U.S. criticism that Germany exploited an “undervalued” euro to fuel its exports. The attack “very obviously is meaningless,” Sapin said.

However, Germany “could be more ambitious” in investment spending, he said. “We think that this would be in the interests both of Germans and the eurozone,” Sapin said.

Sapin’s words add to external pressure and to an internal debate in Germany about the country’s trade surplus, which has repeatedly broken records since the 2008 to 2009 financial crisis.

The German federal statistics office Destatis said Germany exported 253 billion euros ($270 billion) more than it imported last year.

Exports added 1.2 percent to top 1.2 trillion euros, while imports climbed 0.6 percent to 955 billion euros.


 

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