Germany’s Scholz: 2020 Budget will tackle great challenges, including global trade dispute

Reuters reports the latest comments from the German Finance Minister Olaf Scholz following the announcement of the 2020 Budget.

Key Headlines:

2020 budget is expansionary.

Budget will tackle great challenges, including global trade disputes.

Germany is not in a crisis, has solid fiscal position.

We will react should there be a crisis.

We are doing what is needed without new debt.

Last hour, Scholz announced the new 2020 Budget in Parliament without new debt, but the budget offered nothing new and was on the expected lines. Therefore, the shared currency failed to react, with EUR/USD keeping its range just below the 1.1050 level.

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