If you live beyond your means and have to restructure as a result, you pay a price.
Wolfgang SchaublePolitics means competition, especially in senior positions. If you don't know that, you're not especially suited to politics.
Wolfgang SchaubleAt the moment we are facing a whole collection of difficult to forecast developments from the situation in China and the oil-price crash to the worrying news from some banks in Europe and the US. All of that is linked: Worldwide company debt is high and there is a lot of money in circulation. That is why necessary structural reforms are not being made.
Wolfgang SchaubleOur balanced budget has an important psychological function. It is a signal that we can't continue to constantly take on debt.
Wolfgang Schauble