Exit strategies must begin after recovery - Merkel

L'AQUILA, Italy (Reuters) - German Chancellor Angela Merkel said on Friday the world must only begin exit strategies from global stimulus measures once an economic recovery has got properly underway.

"Reaching the bottom of the slump is not when you start with exit strategies. We need to choose a point where we've already got some way out of the trough," Merkel told a news conference at the Group of Eight summit in L'Aquila, Italy.

Merkel added that she believed a Chinese proposal to consider pressing for a new global reserve currency was not of "practical relevance" for the time being.

(Reporting by Gernot Heller, writing by Dave Graham)