Schäuble calls for the continuation of austerity policies in Germany and Europe


Schäuble calls for the continuation of austerity policies in Germany and Europe

Peter Schwarz

12 October 2017

German Finance Minister Wolfgang Schäuble is using his last days in office to call for his austerity policies to be made permanent. The 75-year-old Christian Democratic Union (CDU) politician is set to resign in the next few days because he will be elected as president of the Bundestag (federal parliament) on October 24. This week, however, Schäuble will be meeting all those who have a say in international monetary and financial policy.

Schäuble, who, like no other politician, stands for German arrogance and a ruthless cuts policy in the interest of the rich, and who has ruined the lives of millions, wants to ensure that this course continues after his departure as finance minister. And he is finding much support for this.

On Monday, Schäuble met with the finance ministers of the euro zone in Luxembourg, and on Wednesday he attended the anniversary of the International Monetary Fund in Washington, where, alongside ministers and central bank officials from 189 member states, many powerful figures from the banking and financial sectors meet. Two press conferences, as well as numerous bilateral meetings are planned.

In Luxembourg, Schäuble was praised in the highest tones by his 18 colleagues. “We will miss him,” said Eurogroup chief Jeroen Dijsselbloem. “He was a great colleague for each of us, he gave advice, sometimes asked for, sometimes unasked for. He has always put the long-term interests of a stable Eurozone in first place.”

Italian Finance Minister Pier Carlo Padoan described Schäuble as a “great finance minister”. French Finance Minister Bruno Le Maire called him “a great European”, who had “played a major role in the development…

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