Germany needs tighter fiscal policy, Nagel says

EU Stability and Growth Pact should have stricter fiscal rules, Bundesbank president argues

Joachim Nagel
Joachim Nagel
Sebastian Weindel

Fiscal policy should be tighter in Germany to tame inflationary pressures, Deutsche Bundesbank president Joachim Nagel told Central Banking in a recent interview.

“We need to normalise fiscal policy,” Nagel said. “That means fiscal consolidation.”

The Bundesbank president acknowledged the stimuli implemented by the German government in 2022 were necessary. They served to protect households and businesses from the radically higher energy prices the Russian invasion of Ukraine unleashed in

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