Germany’s Scholz: Debt needs to be paid back, even with negative rates

Amid deteriorating German manufacturing and construction sector, Germany’s Finance Minister Olaf Scholz came out on the wires, noting that debt needs to be paid back, even with negative rates.

These comments seem to be like an alarming bell, but the shared currency pays little heed, as EUR/USD bounces-back towards 1.1050 barrier.

• German Factory Orders fell by 5.6% y/y in July
• Germany August Construction PMI arrived at 46.3 vs. 49.5 last