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Germany boosting consumption, not just focused on savings-Merkel
September 17, 2012 / 9:53 AM / 5 years ago

Germany boosting consumption, not just focused on savings-Merkel

BERLIN, Sept 17 (Reuters) - Germany is not only focused on reducing debt and deficits but is also trying to boost domestic consumption to help tackle the euro crisis, Chancellor Angela Merkel said on Monday.

Merkel’s ruling centre-right coalition has come under fire from some countries in Europe for putting a heavy emphasis on austerity measures to reduce the euro zone’s debt load at a time of economic slowdown.

“Germany is conducting a policy which is not only aimed at saving money. It is also trying to stimulate consumption at home,” Merkel told a news conference.

She added that it was important to reduce debt because investors feared they might not get their money back.

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