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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 <br> <br> biggest economy has lost competitiveness over the past decade, German Finance Minister Christian Lindner said on Monday.<br> <br> <br> <br> <br> <br> "We can't be satisfied with the economic developments in Germany," he told journalists ahead of a <br> <br> Eurogroup meeting.<br> <br> <br> <br> The German economy is expected to contract by 0.2% in 2024, an economy <br> <br> ministry spokesperson said on Monday, cutting the forecast from a previous projection of 0.3% growth this <br> <br> year.<br> <br> <br> <br> If realised, this would be the second consecutive year <br> <br> of contraction for Germany's economy, which was the weakest among its large euro zone peers last year with a 0.3% decline in gross domestic product.<br> <br> <br> <br> <br> <br> Lindner said the government was introducing supply-side measures <br> <br> to try to return the economy to growth.<br> <br> <br> <br> "After these reforms, Germany will have more competitiveness again," Lindner said, adding that the growth initiative was just a first step for an economic <br> <br> 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 <br> <br> in order, or to put them back in order where necessary.<br> <br> <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 because he <br> <br> had not had the chance to talk with his French colleagues yet, <br> <br> 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 <br> <br> said.<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 <br> <br> Christina Fincher)<br> <br> <br> <br> Take a look at my webpage: <a href="https://Pipewiki.org/wiki/index.php/User:LouPrintz490">ร้านดอกไม้น่ารักๆ</a>