Wolfgang Schauble Warns Global Economy at Risk of New Financial Crisis

Investing.com - Germany's outgoing Finance Minister Wolfgang Schauble has warned that spiraling levels of global debt, as well as the growth of liquidity risk creating a new global financial crisis.In an interview with the Financial Times published Sunday, Schauble warned of new market bubbles forming, fueled by money pumped into the economy by central banks like the ECB and the Federal Reserve.He said that his view is shared by economists around the world.The remarks came after International Monetary Fund Managing Director Christine Lagarde last week warned that there are "threats on the horizon" for the global economy, which are largely associated with rising debt.Schauble, who is to become the speaker of the Bundestag in Germany’s new government, will attend his last Eurogroup meeting of finance ministers on Monday.