Guido Westerwelle told the Bild am Sonntag weekly: "Let us not forget that the cause of the current crisis is too much debt in Europe, but also too much debt worldwide. "Therefore, I cannot understand some of the critical comments from our American friends regarding our policy of reducing debt." Westerwelle's remarks were the latest in a series of barbs between Berlin and Washington over Europe's perceived dithering over the crisis. Last month, US President Barack Obama urged Europe to act faster to find a solution, saying the debt and banking crisis was "scaring the world," prompting a furious and un-diplomatic response from Germany's finance minister. "It's always much easier to give advice to others than to decide for yourself. I am well prepared to give advice to the US government," said Wolfgang Schaeuble. "Even if Obama is thinking the opposite, I don't think the problems of Europe are the reason for the problems of the US," he said. And on Friday, German Chancellor Angela Merkel took a clear swipe at the US, saying that she could not accept that those urging faster action on the debt crisis were also blocking a proposed tax on financial market transactions. However, Obama and Merkel discussed the crisis on Friday and top American finance officials appeared to be happier with Europe's progress towards a solution at a meeting of the G20 in Paris a day later. US Treasury Secretary Tim Geithner said finance ministers and central bankers had "heard encouraging things from our European colleagues in Paris about a new comprehensive plan to deal with the crisis on the continent." Westerwelle hinted at a three-point plan: "Europe must become a stability union worthy of the name; we need hard punishments for nations with permanently weak budgetary situations; the competitiveness of EU states must be raised." He reiterated Berlin's opposition to Eurobonds -- issuing eurozone-wide debt -- that several economists suggest would be an effective solution to the crisis. "We shouldn't make it easier to rack up debts. Quite the opposite: solid budgets and reducing debts are the order of the day," Westerwelle said.