German Finance Minister Wolfgang Schaeuble said on Friday that a high amount of liquidity can lead to price bubbles.

"If you look at what's going on [on] a global level, this increasing public and private liquidity on the financial markets, it's by sure that we are moving to the next bubble," he said.

Schaeuble added that structural reforms should be implemented.

"It should not serve as a way out of, or to neglect, what is necessary -- that is structural reforms," he said.