France Called on Germany to Save the EU from a Worsening Economic Situation
French Minister of Economics and Finance Bruno Le Mer called on Germany “right now” to start investing in the euro zone, without waiting for the economic situation to worsen.
According to the French minister, Germany “does not have to wait until the economic situation worsens”, she “should invest and invest right now – the sooner the better”, TASS reports.
“It is European countries that have sufficient income and a sufficiently free framework for action to invest – and do it immediately,” said Le Mayor at the French National Assembly, presenting the draft budget for 2020.
However, he acknowledged that Paris does not have the opportunity to increase investment.
“The situation in which France is located is completely different,” said the head of the financial department.
Le Mayor recalled that France’s public debt exceeds 98% of its GDP.
“We remain determined to achieve stabilization of government debt, and in the future to reduce its size during the five-year presidential term of office,” the minister promised.
During his speech, Le Mayor also expressed support for the course of the head of the European Central Bank (ECB) Mario Draghi, which involves lowering interest rates and buying up assets in order to revitalize the European economy.
“France supports the bold decisions taken by the ECB and its head. We believe that his decisions are the only truly responsible decisions aimed at avoiding another deterioration of our economic environment, ”the French Minister of Economy and Finance emphasized.