Germany warns against celebration

Germany’s top finance officials warned investors against prematurely celebrating an overhaul of Europe’s economies four years after they plunged into crisis.

“It’s good that markets have become more confident again,” said finance minister Wolfgang Schaeuble at the spring meetings of the International Monetary Fund. “But I’ve said that in parts they’re already exaggerating again.”

Bundesbank president Jens Weidmann said “there’s a discussion about a stability risk that’s created by financial markets in a certain way running ahead of adjustment processes.”