Bloomberg News

Weidmann Sees‘Significant Downside Risks’ for German Economy

October 15, 2011

Oct. 15 (Bloomberg) -- Bundesbank President and European Central Bank governing council member Jens Weidmann said the global economic outlook “clouded over” in the past weeks and there are “significant downside risks” for the German economy.

Still, while the Bundesbank expects the German economy to go through a “dent” in growth, it doesn’t expect a recession, Weidmann told reporters after a meeting of finance ministers and central bank governors from the 20 biggest economies in Paris.

“It still holds true that the German economy is well prepared” to deal with a slowdown, Weidmann said, rejecting stimulus measures as they might undermine Germany’s role as a “stability anchor” in the euro region.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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