German Minister of Finance Wolfgang Schauble in a statement during his visit in Washington on the occasion of the annual meeting of the IMF and the World Bank, appeared once again strict on the application of the provisions of the fiscal compact for reducing deficits and debt reduction of European states.

According to Deutsche Welle, Mr. Schauble replied to European leaders Francois Holande and Matteo Renzi by stating that: “Trust is the ultimate prerequisite in order to ensure the viability of European markets’ development. It would be unacceptable on our side if we were to compromise it”.

Further, the German Prime Minister while referring to the deterioration in the general economic climate and the pressures exerted by IMF chief Christine Lagarde he stated that:”countries such as Germany should help strengthen public investment without violating their financial stability”. Mr. Schauble also made a promise that:” the German government will do everything within its power to finance specific investment opportunities “although as he highlighted, that is not possible to happen overnight.

Finally, Mr. Schauble firmly rejected the scenario of investments with borrowed money. ” It is not about presenting high numbers, but keeping our promises. Our top priority remains reducing the national debt”.