Schaeuble drops debt goals

Germany’s finance minister appears to have dropped his insistence on starting to pay back the country’s debt from 2015, focusing instead on not borrowing more and not raising taxes. In an advance copy of an interview with Focus magazine, Wolfgang Schaeuble said the aim was to issue no new debt from 2015 and to cut the level of debt to gross domestic product to below 60 per cent from the current roughly 80 per cent within 10 years.