German Finance Minister Olaf Scholz hinted that Berlin could channel billions of euros into the EU economy if the bloc were to face a crisis, as he spoke to the Bundestag during a budget debate. He pointed out Germany’s role as the “largest economy in the middle of the European Union.”
"And from my point of view, therefore, with the solid financial foundations we have today, we are in a position to counter an economic crisis with many, many billions of euros if one actually breaks out in Germany and Europe," the official said, noting “We'll really do it then.”
Angela Merkel’s minister dubbed it “an active policy against the crisis," reassuring lawmakers, however, that there is no recession currently.
Concerns about a possible recession in the July-September period were prompted by weak data and a 0.1 percent quarter-on-quarter contraction of the German economy for the second quarter.
