FRANKFURT (MNI) – Basel III “in total is a balanced solution” and
will help prevent the financial system from becoming “overburdened,”
German Finance Minister Wolfgang Schaeuble said Thursday.
Schaeuble acknowledged to his audience at a finance conference here
that the tougher capital ratio requirements would lower bank profits,
but he said it was more important to ensure that a financial crisis like
the one just experienced be prevented.
The minister repeated the need for “forceful” budget deficit
reduction both in Germany and across the Eurozone.
It is in the interests of Germany to defend both European unity and
the common currency, he said.
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