German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico. Global debt and the volatile borrowing market can push the world into new serious financial sector problems.
"Economists around the world are worried about the rising risk that comes from accumulating more liquidity and increasing public and private debt," said Schauble. The German, who has agreed to become the chairman of the German Bundestag, has also warned of the bubbles created in the new economies, thanks to the pouring of money from the central banks. He also warns of potential problems in the Eurozone, as banks face difficulties with not paying out loans.
Wolfgang Schauble will be present today at his last meeting of Eurogroup finance ministers.