P.M. BRIEFING : Germany Ready to Boost Aid Financially in War Against Iraq
German Finance Minister Theo Waigel today said that Germany is prepared to boost its financial assistance for the fight against Iraq to show solidarity with the allied war effort.
Waigel made the pledge in a television interview after meeting with U.S. Treasury Secretary Nicholas F. Brady. Brady and Federal Reserve Chairman Alan Greenspan are hosting two days of discussions with their counterparts from Japan, Germany, Britain, France, Canada and Italy.
U.S. demands that Japan and Germany bear more of the financial burden of fighting Iraq are complicating efforts by the world’s industrial powers to prevent the war from disrupting financial markets.
By coordinating their efforts to buy and sell currencies, the United States and its Group of Seven colleagues hope to prevent the war from sending global markets into a tailspin.
Brady made that point in separate meetings with both Japanese and German officials.
Waigel did not specify the amount by which Germany would increase its aid package, which now totals $3.43 billion.
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