FRANKFURT (MNI) – German Finance Minister Wolfgang Schaeuble on
Tuesday reiterated his view that the ECB must not become the lender of
last resort for Eurozone governments, saying he would do everything to
prevent this from happening.
“The ECB must remain independent and must not be allowed to become
the lender of last resort,” Schaeuble said Tuesday in the Bundestag
during a debate on the budget. “I will ensure that the ECB does not
become a financier of states.”
Schaeuble said the euro remained a strong currency and his
government would do all it could to defend its credibility, but not at
the cost of its stability.
“We can only (defend the euro) in a manner that ensures it remains
a stable currency,” he said.
Schaeuble said the German economy remained strong, but that
uncertainty from the financial markets was having a negative impact on
the economic outlook.
–Frankfurt bureau +49 69 720 142; email: frankfurt@marketnews.com–
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