Transcript - Dr Wolfgang Schäuble

Chatham House

This is a transcript of a speech made by Dr Wolfgang Schäuble, German Federal Minister of Finance, on 17 October 2011 at Chatham House.

Dr Schäuble discussed the ongoing economic downturn in the Eurozone and the wider global economy, arguing that only when highly indebted governments start lowering their deficit and debt levels will citizen and investor confidence be restored. Warning that cyclical, credit-fuelled growth does more harm than good, he called for a new balance to be found between the state and the financial markets.

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