Fears have been growing that major economies could get into a bidding war, depressing currencies to boost exports. But the G20 meeting has promised to avoid that.
Faced with "low and uneven growth" across the global economy, the IMF has urged governments to start spending again to buoy growth. It comes as reform efforts are stalling, and austerity seems to have run its course.
Fiscal consolidation has taken center stage in the eurozone as the bloc's 18 members finalize their draft budgets. France is under fire for missing a deficit target and Germany's focus on austerity has left it isolated.
The German government sees itself as a fiscal role model for the rest of the European Union. But Finance Minister Wolfgang Schäuble's dream of a balanced budget may not be the answer.
Germany has pledged billions of euros in public investment in the next several years. The government had been under pressure to increase spending to prevent another recession in the eurozone.
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