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By Maria Martinez<br> <br> <br> <br> LUXEMBOURG, Oct 7 (Reuters) - Germany's economic model is <br> <br> not broken but Europe's biggest economy has lost competitiveness over the past decade, <br> <br> 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 Eurogroup meeting.<br> <br> <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 this year.<br> <br> <br> <br> <br> <br> If realised, this would be the second consecutive year of contraction for <br> <br> Germany's economy, which was the weakest among its large <br> <br> 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 to try to return the economy to growth.<br> <br> <br> <br> <br> <br> <br> <br> "After these reforms, Germany will have more competitiveness again," <br> <br> Lindner said, adding that the growth initiative was just a first step for an economic turnaround, "but we have to build on it."<br> <br> <br> <br> AMBITION NEEDED<br> <br> <br> <br> Lindner said "ambition" was needed to keep EU public finances in order, or to put them <br> <br> back in order where necessary.<br> <br> <br> <br> "I can only encourage everyone to implement structural reforms and to make unpopular decisions," Lindner <br> <br> said. "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 yet, but <br> <br> 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> Look at my homepage; รูปพวงหรีดแสดงความเสียใจ - <br> <br> https://www.webwiki.com/boonforal.com/