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G7 members adopt tough German fiscal rules
Dresden Published in Saudi Press Agency on 28 - 05 - 2015


The world's major economies meeting in
Dresden agreed on Thursday to adopt Germany's tough fiscal rules, dpa reported.
Group of Seven (G7) ministers and central bankers meeting in the
eastern German city backed Germany's long-held stance that fiscal
stimulus measures should not be funded through new borrowings.
Despite strong misgivings among several states such as the United
States and Italy, the G7 ministers agreed that debt-financed economic
growth did not represent an alternative to structural reforms,
officials said.
-- SPA
21:27 LOCAL TIME 18:27 GMT
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