Deregulating Financial Markets Was ‘Stupidity,’ Says Schaeuble
Wolfgang Schaeuble on Sept. 3.
Photographer: Michael Kappeler/picture alliance via Getty Images
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Known for his resolute fiscal discipline during the euro crisis, Wolfgang Schaeuble made an unusual plea to tame market forces, saying that deregulation before the financial crisis was a "stupidity."
"The motto was deregulation, deregulation, deregulation, until everything blew up," he said. "Freedom needs restrictions."