Bundestag President Wolfgang Schäuble has met demands for a debt-financed economic stimulus program.
Neither in the EU nor in Germany was too little money available the problem, said the former Federal Finance Minister in an interview with Reuters TV. There is a lack of investment. "But it's not because the federal government does not provide enough money for that, it just does not flow away," said the CDU politician.
Above all, Schäuble was responsible for long planning and approval procedures so that investment funds would not flow away. Schäuble continued: "The countries that have the big problems in Europe were at the same time the countries that least used the money from the European Structural Funds."
In addition, there would be a lack of capacity in the construction industry. Schäuble accused international economists of always demanding more investment in a low-interest phase out of ignorance. But more money will not ensure that, for example, the power lines to southern Germany, wind turbines or BER airport are built faster. "This superficial talk, if we spent more money on investment, then we would have fewer problems, that fails because we have to make sure that the investments actually take place," said Schäuble.
Indirectly Schäuble also accused the federal government of raising false expectations. Now about the "largest investment program" for rail transport announced. "I am very curious how the funds will be implemented," he said. For the fight against climate change, it would be important to spend more money in Africa, for example. With every euro you would do more there than with many measures in Germany.
