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5/21, 9:54 PM (Source: TeleTrader)
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German FinMin calls for EU to limit public spending

German Finance Minister Christian Lindner (pictured) said The European Union's decision to suspend its Stability and Growth Pact is not an "excuse" for the bloc countries to maintain their free-spending insurance policies.

According to the Financial Times, Lindner claimed that being allowed to deviate from the pact doesn't imply the countries "really ought to do this." "The choice to increase the escape clause should't be seen as a precedent or a prelude to reform of the fiscal guidelines," he stated, adding that the suspension should be seen as a chance for the members to rethink the entire EU rulebook.

"There's an actual hazard of stagflation," he concluded.

Baha Breaking News (BBN) / NL