Debt Reduction is a Global Task, Says Schaeuble

German Finance Minister Wolfgang Schaeuble ruffled some feathers this week after suggesting that the U.S. and Japan share responsibility for Europe to ensure global economic stability. The comments came in during a finance minister meeting during the G20 meeting.

"The United States and Japan bear as great a responsibility for (ensuring stability) as we Europeans," said Mr. Schaeuble in the conference. "The G20 economies must decisively win back confidence with structural reforms and sustainable financial policies."