(Reuters) - Germany believes the United States should normalize its monetary policy and each country must ensure it can cope with such policy changes, a senior German government source said ahead of a meeting of G20 finance ministers and central bankers.
Briefing reporters in Berlin about a February 22-23 meeting of officials from the Group of 20 advanced and emerging economies in Sydney, Australia, the source said each state should go by the motto: "Get your own house in order".
"We are of the opinion that this normalization is necessary," the source said. Earlier on Tuesday, a Japanese finance ministry official said policymakers of major economies must take care implementing changes to monetary policy, amid expectations that the U.S. Federal Reserve will continue to taper its quantitative easing.
The German government source said Germany rejected concrete goals for economic growth and investment development.
"We are extremely skeptical about the proposals of some G20 partners for agreeing binding quantitative goals (for growth)," the source said, noting this would be a "slightly antiquated form of economic planning".
reuters.com
Briefing reporters in Berlin about a February 22-23 meeting of officials from the Group of 20 advanced and emerging economies in Sydney, Australia, the source said each state should go by the motto: "Get your own house in order".
"We are of the opinion that this normalization is necessary," the source said. Earlier on Tuesday, a Japanese finance ministry official said policymakers of major economies must take care implementing changes to monetary policy, amid expectations that the U.S. Federal Reserve will continue to taper its quantitative easing.
The German government source said Germany rejected concrete goals for economic growth and investment development.
"We are extremely skeptical about the proposals of some G20 partners for agreeing binding quantitative goals (for growth)," the source said, noting this would be a "slightly antiquated form of economic planning".
reuters.com
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