BERLIN, (Reuters) – Germany will respect the jointly approved fiscal rules because it controls inflation. Christian Lindner, Germany’s Finance Minister, stated on Monday that Germany would do the same. Lindner also indicated that he anticipates that the real debate about fiscal rules in the European Union will begin in June.

Lindner, speaking to reporters at Brussels in the days before his Eurogroup meeting with counterparts of other Eurozone member states, said that the EU’s Stability Growth Pact’s fiscal rules were flexible and had been able to withstand the crisis.

Lindner explained, “But now it is the right time to build up fiscal buffers once again, and we need resilience, not just in the private but also in government.” Lindner stated, “That is why I am very supportive of the reduction in sovereign debt.”

Central banks have the goal of fighting inflation. However, central banks can do more than just that. Lindner added that governments could also stick to fiscal rules. He said there are already many exceptions in the EU Stability and Growth Pact.

Germany is willing to listen to all suggestions regarding how to improve the EU’s fiscal regulations, however Berlin believes that the true debate on the Stability and Growth Pact should start in June with the European Commission propsals, Lindner explained.

Lindner stated that Germany would like to work with France as it holds the EU presidency for the first half of the year. It also wants to use its G7 presidency for the year in order improve resilience in the banking industry.

Berlin is willing to complete the EU’s banking union which includes tackling the problem of the state-sovereign-nexus, he said, referring to the high concentration of bonds of a single sovereign in the balance sheets of banks in the same country.

Lindner stated, “In 2022 we will be able to address all of these issues in a holistic way: Stability and Growth Pact and banking union, as well as fiscal-monetary stability.”