BERLIN (MNI) – The German government on Friday hailed the pledge by
ECB President Mario Draghi to do what it takes to safeguard the euro.
Finance Minister Wolfgang Schaeuble said in a press statement that
he “welcomes the recent remarks by President Draghi to undertake the
necessary measures to safeguard the euro within the framework of the
existing mandate of the ECB.”
Government spokesman Georg Streiter said at a regular press
conference here: “The ECB is doing its duty and the government will do
what it can politically to save the euro.”
Streiter played down the opposition expressed by Horst Seehofer,
leader of the Bavarian sister party of Chancellor Angela Merkel’s CDU,
to any new bond-buying by the ECB, saying it was only “an individual
opinion”.
Schaeuble said a precondition for any ECB action would be that
member states first take the necessary measures to cope with the debt
crisis. He praised the reform efforts of Italy and Spain and said
Ireland and Portugal were “on a good path.” The Irish bond auction had
shown it is possible to win back the confidence of markets.
“The institutional framework of the Eurozone must also be
strengthened,” Schaeuble said.
Streiter said he was “almost 100% certain” that media reports that
Draghi had been in contact with Berlin before his speech on Thursday
were wrong.
The government spokesman also said he did not have any information
on reports about a planned phone call between Merkel and French
president Francois Hollande later today.
Finance Ministry spokeswoman Marianne Kothe said at the same press
conference that Germany still opposed giving Europe’s planned permanent
rescue fund ESM a banking licence: “Our stance remains unaltered.”
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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