May 20, 2016 / 11:07 AM / 4 years ago

Germany views structural reforms as key for G7 summit in Japan

Participants of the G7 finance ministers and central bankers meeting pose for a family picture, ahead of the kickoff of the meeting at Aoba Castle in Sendai, Miyagi prefecture, Japan, in this photo taken by Kyodo May 19, 2016. Mandatory credit Kyodo/via REUTERS

BERLIN (Reuters) - Germany regards structural reforms as a key tool to help support the global economy, a senior German government official said on Friday ahead of a meeting of the Group of Seven industrial powers in Japan next week.

The official said monetary policy, fiscal policy and economic reforms were the three classic options discussed as policy tools.

“From German viewpoint, structural reforms are a key issue,” the senior government official said, adding leaders would also discuss how much trade could add to overall global growth.

The comments came after the head of Germany’s Bundesbank said on Wednesday that many euro zone countries have neither the leeway nor any urgent need to increase fiscal spending, so they should focus on reform instead.

Writing by Michael Nienaber; Editing by Paul Carrel

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