Bloomberg News

Schaeuble Says G-20 Must Honor Deficit-Cutting Commitments

April 18, 2013

German Finance Minister Wolfgang Schaeuble said finance chiefs meeting in Washington this week mustn’t lessen their efforts to make the international financial system more resilient against crises and stabilize public finances long term.

The meeting in Washington is a welcome opportunity to remember the commitments made at Group of 20 leaders’ meetings in recent years, including in Toronto in 2010, and develop them further, Schaeuble told reporters on his way to Washington.

Europe has made progress on its way toward a “stability union” and is adhering to its international obligations, he said. Europe’s economic policy changes have laid the foundation for lasting growth, he said.

The European Union has made funds available to tackle problems including “unbearably high” youth unemployment and to improve public infrastructure, Schaeuble said. He said he’ll use the opportunity of the Washington meeting to seek support for German efforts to fight tax evasion and the erosion of the tax base.

To contact the reporter on this story: Rainer Buergin in Berlin at

To contact the editor responsible for this story: Chris Wellisz at

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