German Finance Minister Wolfgang Schaeuble warned on Wednesday there could be a new global financial crisis if the world's top economies continue to flood the global economy with liquidity.

"We will not be able to avoid the next crisis a la 2008 if an increasing amount of money is pumped into the economy," Dow Jones Newswires quoted Schaeuble as saying in comments apparently aimed at Japan and the United States.

At a meeting of his conservative Christian Democratic Union party, Schaeuble said he planned to tell his US colleagues at a meeting of finance ministers of the Group of 20 industrial and developing countries this week in Moscow that the US should emulate Europe.

"I am going to tell them: If only you would follow the example of the euro zone," the minister said. "Sustainable growth can only be achieved on the basis of sustainable fiscal policy."

The strength of the euro, the state of the global monetary system and controversy over a so-called "currency war" look set to dominate the G20 meeting in Moscow on Friday and Saturday.

The currency issue has been revived by Japan and is beginning to cause concern in some quarters in Europe, particularly in France.

--- Dow Jones Newswires contributed to this story ---