Germany rebuffs US calls to focus on economic growth

06/21/2010 | Bloomberg

Leaders from the Group of 20 are preparing to meet in Canada this week, but Germany and the US are already disagreeing over the best course for ensuring economic recovery. The US called for G-20 countries to focus on growth rather than debt reduction, while Germany argued that sovereign debt must be addressed. "Nobody can seriously dispute that excessive public debts, not only in Europe, are one of the main causes of this crisis," said German Finance Minister Wolfgang Schauble. "That's why they have to be reduced."

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