Germany answers Rajoy plea: 'No more stimulus'

LONDON (ShareCast) - German economic minister Philipp Rösler responded to Spanish president Mario Rajoy's call for more stimulus by insisting that there would be no more debt-financed economic stimulus measures.

Instead, Rösler favoured the current "growth-friendly budget consolidation course".

In an interview for Financial Times, Rajoy called for nations that can boost growth to do so while it was unreasonable to ask Spain to take expansionary measures at this time.

In regards to the central bank's role in providing a boost, Germany stays firm in its stance that the European Central Bank's sole mandate is to assure price stability.