By Maria Martinez<br>
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LUXEMBOURG, Oct 7 (Reuters) - Germany's economic model is not broken but Europe's biggest <br>
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economy has lost competitiveness over the past decade, German Finance Minister Christian Lindner said on Monday.<br>
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"We can't be satisfied with the economic developments in Germany," he told journalists <br>
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ahead of a Eurogroup meeting.<br>
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The German economy is expected to contract by 0.2% in 2024, an economy <br>
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ministry spokesperson said on Monday, cutting the forecast from a previous projection of 0.3% growth this <br>
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year.<br>
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If realised, this would be the second consecutive year <br>
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of contraction for Germany's economy, which was the weakest <br>
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among its large euro zone peers last year with a 0.3% decline in gross domestic product.<br>
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Lindner said the government was introducing supply-side measures to try to <br>
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return the economy to growth.<br>
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"After these reforms, Germany will have more competitiveness again," Lindner said, adding that the <br>
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growth initiative was just a first step for an economic turnaround, "but we have to build on it."<br>
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AMBITION NEEDED<br>
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Lindner said "ambition" was needed to keep EU public finances in order, or to put <br>
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them back in order where necessary.<br>
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"I can only encourage everyone to implement structural reforms and to make unpopular decisions," Lindner said.<br>
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"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>
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Lindner said he could not comment on the French budget plans because he <br>
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had not had the chance to talk with his French <br>
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colleagues yet, but he would do so on Monday evening.<br>
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"We should all realise that the credibility of public finances vis-à-vis the capital markets is not to be trifled with," <br>
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Lindner said.<br>
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"We must credibly reduce our deficits and our debt so that we can continue to finance ourselves well and in a stable manner."<br>
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(Reporting by Maria Martinez, Editing by Miranda <br>
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Murray and Christina Fincher)<br>
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My web page :: รูปพวงหรีดแสดงความเสียใจ - https://www.webwiki.com/boonforal.com/
By Maria Martinez<br>