Germany's Lindner: High inflation erodes economic foundations

Germany’s Finance Minister Christian Lindner said on Tuesday that high inflation in Germany was eroding economic foundations, as reported by Reuters.

"We must expect 30 billion euros in 2023 for interest payments rather than 4 billion euros previously expected," Lindner added.

Earlier in the day, German Chancellor Olaf Scholz reiterated that they must prevent a lasting inflation spiral.

Market reaction

These comments don't seem to be having an impact on risk sentiment. As of writing, Germany's DAX Index was up 1% on the day at 13,400 points.