Market news
13.10.2020, 08:00

Europe’s economy would be back to pre-crisis levels quicker if we work together - German Finance Minister

CNBC reports that German Finance Minister Olaf Scholz said he is confident the economy can return to pre-crisis levels by 2022, but that European leaders needed to work together.

“If I look to the data, we could be quite confident about the future, we have an increase in economic growth, we will have a chance that we go back to the situation we had before the crisis in the beginning of (20)22, possibly a bit earlier,” Scholz told CNBC.

“So, there is a good development we can see ... but we have to understand that we all depend on each other. And this is even so for the economy.”

Scholz said the EU has an opportunity for closer fiscal union now, describing it as “Hamiltonian moment” for the region, referencing the deal struck in 1790 by the first U.S. Treasury Secretary Alexander Hamilton to convert individual states’ debts into joint obligations of the federal union.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location