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Reuters is out with the comments delivered by the German Finance Minister Olaf Scholz in an in an interview with the BBC aired on Friday, as he said that there would be no new debt to stimulate Germany’s slowing economy.

Key Quotes:

“We just have softer growth, which is far away from a recession.”

“And if you are really a globalized economy, if you are a big exporter and importer all the developments in the world economy will have an impact on the development of your country. And we know that there is a slowing of the world economy. And we know where this comes from. It is mostly political reasons.”

“I very much agree with all those in Germany saying that we should not have extra debt.”

“It is a very good policy that we say that we have enough debt in Germany and that there should not be an increase and that we will stick to the rule of not further increasing the public debt.”