Schäuble: Eurozone crisis no longer main risk to global economy

11 May 2013

The eurozone crisis is no longer the main risk for the global economy, German Finance Minister Wolfgang Schäuble said, adding that a "relatively high level of liquidity" could cause problems.

Speaking after a meeting of Group of Seven finance officials, Schäuble said: "Of course we had particularly intense discussions with our Japanese colleagues...we told them there are consequences which we can see already. Finance ministers told central bank governors that we are increasingly concerned about the relatively high level of liquidity."

Bundesbank President Jens Weidmann reiterated that monetary policy could not tackle structural problems and said the longer the period of low interest rate continues the greater the stability risks.

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