The European Central Bank should start unwinding its ultra-loose monetary policy this year, German Finance Minister Wolfgang Schaeuble said in an interview to be published on Friday, adding that it would not be easy.


He said forecasts that inflation could reach 3 percent in Germany this year would exacerbate concerns about current low interest rates.


The conservative minister said it would take a great effort to convince German citizens that the common currency provided more employment, social and business benefits than risks and negative consequences.

To help Germany make the argument, he said it was essential that Italy and other countries stuck to the agreed rules.

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