German Economy Unaffected by Subprime Crisis
Germany's economy remains unaffected by the subprime mortgage crisis in the U.S., Finance Minister Peer Steinbrueck told the Cabinet today, the second minister in as many days to play down the effects of market turbulence.The German economy, Europe's biggest, will expand 0.4 percent in the third quarter, faster than the 0.3 percent growth in the second three-month period, the Berlin-based DIW economic institute said today. There's "no reason to assume'' that there may be "serious dangers'' for the German economy from the subprime mortgage crisis, it said.
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