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ECB should limit amount of liquidity in the eurozone, says Wolfgang Schaeuble
The European Central Bank should try to limit the amount of the liquidity in the eurozone, Germany's finance minister has said, as he warned that pumping money into crisis hit economies would not create growth if they were not matched by reforms.

"There is much money in the market, in my view too much money," Schaeuble said in an interview for the German economic weekly Wirtschaftswoche on Friday.

"If the ECB tries to use what leeway it has to reduce this great liquidity a little I would welcome that," he said, adding that the ECB had done well to bring inflation below 2pc.

"We in Germany should not forget that many European countries are still in a precarious situation with economic growth," he added. But pumping liquidity into their economies without far-reaching structural reforms would not create the conditions for sustainable growth. Mr Schaeuble said.

Mr Schaeuble also said he supported a global minimum corporation tax rate and that he remained committed to tackle evasion and tax havens.

Last November, Mr Schaeuble joined UK Chancellor George Osborne in calling for the world's leading economies to combat tax avoidance and to force corporations to pay their fair share of tax or face the consequences.

Mr Schaeuble also said that Cyprus's move to raise its corporation tax from 10pc to 12.5pc was "too low"

"I would have liked a few more percentage points," he said.

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