GermanFinance Ministry spokesman Torsten Albig, at a regular government news conference, has warned that Germany must ensure that its publicly-owned Landesbanks are not allowed to slip into insolvency, stating “There is no doubt that we must find a solution so that Landesbanks are not allowed to become insolvent during this phase.”
The comments come in the wake of Spain having to bail-out a regional savings bank. EUR/USD relatively steady around 1.3175.
