Germany Criticizes Bernanke
Germany’s finance minister has sharply criticized the U.S. Federal Reserve’s decision to pump a further $600 billion into the country’s ailing economy.
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Germany is not impressed. One day after the United States Federal Reserve announced that it would pump $600 billion into America’s banking system over the next eight months, German Finance Minister Wolfgang Schäuble sharply criticized the decision. ‘I don’t think they are going to solve their problems that way,’ Schäuble told German public broadcaster ZDF in a Thursday evening interview. ‘They have already pumped an endless amount of money into the economy via taking on extremely high public debt and through a Fed policy that has already pumped a lot of money into the economy. The results are horrendous.’
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