BERLIN (MNI) – The German government said Friday that European aid
to the Spanish banking sector is designed to limit the risk of fallout
for the state as a whole.
“That is the goal that we have in mind when we try to bring the
[Spanish] banking sector with the help of billions [of euros] into a
better position: that it does not infect the state as whole,” spokesman
Steffen Seibert said at a regular government press conference here.
In his speech in parliament Thursday, Finance Minister Wolfgang
Schaeuble did not try to insinuate that the aid for the Spanish banking
sector was intended foremost to prevent a contagion of Italy, ministry
spokeswoman Marianne Kothe said at the same press conference.
“His remarks were in a general form and did not address a
particular country,” Kothe said. Schaeuble believes Italy is on a good
reform path at the moment, she added.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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