Germany's Scholz: We don't need to think about changing the debt brake

Eren Sengezer FXStreet

Germany's fiscal stimulus measure will be timely, targeted, temporary and transformative, German Finance Minister Olaf Scholz said on Thursday, per Reuters. "The federal government must help municipalities stabilize local public finances."

"It's in our own interests that we also help European countries recover from coronavirus crisis," Scholz added. "We don't need to think about changing the debt brake."

Market reaction

The EUR/USD pair paid little to no mind to these comments and was last seen losing 0.2% on the day at 1.0792.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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