On Friday, German Finance Minister Christian Lindner hoped US politicians would make a “grown-up” choice to raise the federal debt ceiling, warning that failure would threaten the world economy.
On the sidelines of the G7 summit in Japan, Lindner termed the global economy “fragile” and hoped parties would not be mislead by short-termism or partisanship.
Lindner’s remarks raise concerns as President Joe Biden and lawmakers in Washington postponed a Friday meeting. Raising the debt ceiling prevents default.
The German finance minister said politics jeopardized global economic and financial market stability.
“That’s why we’re looking at the United States in particular these days and hoping an adult decision will be made with regard to the development of American government finances and the associated effects on the global economy,” he said.
Later, Lindner defined “grown-up” as a smart judgment without party politics or short-term ambitions.
In Japan, G7 finance executives are debating how far to oppose China, support Ukraine, and sanction Russia.
Lindner and Bundesbank president Joachim Nagel told reporters that the European Central Bank would raise interest rates due to high inflation.
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