Schaeuble Says Stimulus Is Not a German Priority

German Finance Minister Wolfgang Schaeuble in an op-ed published by The New York Times, again knocked back the idea of ramping up stimulus to boost the European economy. "The priorities for Germany, as the current president of the Group of 7 nations, are modernization and regulatory improvements. Stimulus - both in fiscal and monetary policy - is not part of the plan," he wrote. He did offer a limited amount of praise for the European Central Bank. "Unconventional monetary policies pursued by the independent European Central Bank seem to have fulfilled their part" in lowering eurozone sovereign bond yields, he wrote.