Germany rejects U.S. criticism, says no imbalances to correct

Reuters

Updated 1 November 2013 at 7:13 am

BERLIN (Reuters) - Germany is not harbouring economic imbalances that need to be corrected, a German finance ministry spokesman said on Friday in response to stark U.S. criticism of the country's dependence on exports.

"There are no imbalances in Germany that would require a correction of our growth-friendly economic policy oriented towards consolidation," said spokesman Martin Kotthaus, adding that German government, industry and economists had all responded "in unison" to the U.S. criticism.

The U.S. Treasury reprimanded Germany on Wednesday, saying its exporting prowess was hampering economic stability in Europe and hurting the global economy.

(Reporting by Stephen Brown; Writing by Sarah Marsh)

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