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By Maria Martinez<br> <br> <br> <br> LUXEMBOURG, Oct 7 (Reuters) - Germany's economic model is not broken but Europe's biggest economy has <br> <br> lost competitiveness over the past decade, German Finance Minister <br> <br> Christian Lindner said on Monday.<br> <br> <br> <br> "We can't be satisfied with the economic developments in Germany," he <br> <br> told journalists ahead of a Eurogroup meeting.<br> <br> <br> <br> The German economy is expected to contract by 0.2% in 2024, an economy ministry spokesperson said on Monday, cutting the forecast from a previous projection of 0.3% growth <br> <br> this year.<br> <br> <br> <br> If realised, this would be the second consecutive year of contraction for Germany's <br> <br> economy, which was the weakest among its large euro <br> <br> zone peers last year with a 0.3% decline in gross domestic <br> <br> product.<br> <br> <br> <br> Lindner said the government was introducing supply-side measures to try <br> <br> to return the economy to growth.<br> <br> <br> <br> "After these reforms, Germany will have more competitiveness again," Lindner <br> <br> said, adding that the growth initiative was just a first <br> <br> step for an economic turnaround, "but we have to build on it."<br> <br> <br> <br> <u><b>AMBITION NEEDED</b></u><br> <br> <br> <br> Lindner said "ambition" was needed to keep EU public finances in order, or to put them back in order <br> <br> where necessary.<br> <br> <br> <br> "I can only encourage everyone to implement structural reforms and to make unpopular decisions," Lindner said.<br> <br> "What seems to be unpopular at the moment is the willingness to take responsibility for the next generation and for the stability of the European Union as a whole."<br> <br> <br> <br> Lindner said he could not comment on the French budget plans <br> <br> because he had not had the chance to talk with his French colleagues <br> <br> yet, but he would do so on Monday evening.<br> <br> <br> <br> "We should all realise that the credibility of public finances vis-à-vis the capital markets is not to be trifled with," Lindner said.<br> <br> <br> <br> <br> <br> "We must credibly reduce our deficits and our debt so that we can continue to finance ourselves well and in a stable manner."<br> <br> <br> <br> (Reporting by Maria Martinez, Editing by Miranda Murray and Christina Fincher)<br> <br> <br> <br> My blog post - <a href="https://Deadreckoninggame.com/index.php/Your_Weakest_Link:_Use_It_To_%E0%B8%8A%E0%B9%88%E0%B8%AD%E0%B8%94%E0%B8%AD%E0%B8%81%E0%B9%84%E0%B8%A1%E0%B9%89%E0%B8%AA%E0%B8%A3%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B8%84%E0%B8%A7%E0%B8%B2%E0%B8%A1%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%97%E0%B8%B1%E0%B8%9A%E0%B9%83%E0%B8%88">ร้านดอกไม้บรรยากาศโรแมนติก</a>