U.S. financial crisis has only moderately affected German economy so far, said German Chancellor Angela Merkel on Wednesday in the lower house of parliament.
Merkel said the Wall Street crisis has affected the "dynamism" of the global economy. As an open economy, Germany was also affected, but the impact is "moderate," she said.
The German government was closely watching the crisis and consulting German banking leaders and governments of other countries, she said.
Merkel also said her government will not increase any "new debt from 2011" in a debate on the 2009 federal budget in the lower house and she believed the new budget has significantly expanded the credit to German business.
Source:Xinhua
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