–Dep FinMin: Soffin Has Sufficient Funds To Support Banks If Need Be
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble said
Wednesday that Germany will be able to cope with any fallout from the
stress tests of German banks given that the government already
introduced the necessary instruments some time ago.
“My belief is that the consequences for Germany will be
controllable due to the instruments that we created during the crisis,”
Schaeuble explained.
Deputy Finance Minister Werner Gatzer said the government’s
Financial Market Stabilization Fund (Soffin) still has sufficient funds
to deal with any bank problems. “The funds are by far not exhausted,” he
stressed.
Schaeuble said the Committee of European Banking Supervisors had
now defined the parameters for the stress tests. “It has taken a bit
longer than had been initially planned,” he remarked.
–Berlin bureau: +49-39-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$X$$$,M$G$$$,M$$CR$,MT$$$$,MGX$$$]
