BERLIN, May 2 (Reuters) - The ultra-loose monetary policy environment raises new risks for the world economy, which is still feeling the effects of the 2008 financial crisis, German Finance Minister Wolfgang Schaeuble said on Tuesday, urging a timely exit strategy.
Speaking at a G20 sponsored business conference in the German capital, Schaeuble rejected accusations that Germany was manipulating the euro to boost exports and rejected any form of protectionism as damaging to the world economy.
“If we have learnt anything from the past, it is that nationalism and protectionism are never the right answer,” he said. “We have to make our economies more robust. I am confused by those who say that Germany is unfairly manipulating monetary policy.”
Schaeuble warned that failure to shield the world economy from future financial shocks could spell turbulence. (Reporting by Joseph Nasr and Paul Carrel)