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German Finance Minister Wolfgang Schaeuble attends a presentation of a newly designed 2-Euro coin at the Chancellery in Berlin, Germany February 10, 2017. REUTERS/Hannibal Hanschke

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MUNICH (Reuters) - Germany must and will spend more money on defence, Finance Minister Wolfgang Schaeuble said on Friday.

Speaking at the Munich Security Conference, Schaeuble said: "It is a matter of security, we have to do it together, inside NATO and a more efficient European contribution. We are moving in that direction with the European defence union. We have to spend more money on this, we have decided to do so in the German government, no doubt, we will meet our obligations."

(Reporting by Noah Barkin and Robin Emmott)

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