German Minister: Countries Must Slash Government Debt

Unfortunately, governments aren't so good at that

Slashing government debt is the only way to put Europe back on a path of sustainable economic growth, German Finance Minister Wolfgang Schaeuble said on Monday.

"If we want to achieve sustainable growth, we have to reduce the sovereign debt in nearly all advanced economies," Schaeuble said in a speech at the Thai central bank. "There is no choice (but) to reduce in the medium term the over-indebtedness," he added.