German surplus not problem for euro zone says Schaeuble

FRANKFURT (Reuters) - Germany's surplus does not pose a problem for other members of the euro zone, Finance Minister Wolfgang Schaeuble said on Friday, answering critics of its export-driven economy.

Germany's large current account surplus of more than 7 percent of economic output has been criticised by economists as a source of harmful imbalances within the euro area.

ECB President Mario Draghi told the Italian parliament on Thursday "there is no doubt" that Germany's trade

But Schaeuble told a Bundesbank conference on Friday: "I never have accepted that the German surplus is supposed to be a problem for our partners in the euro zone."

Germany has recently balanced its budget for the first time since 1969 and has pressed other euro zone countries to follow its austere example rather than try to stimulate their stagnant economies with borrowing.

"In my view, expansionary monetary policy and high leverage are not the solution but the main causes of the financial and debt crises of recent years," Schaeuble said.

(Reporting By Maria Sheahan and John O'Donnell; Editing by Andrew Heavens)