–Adds Remarks By Deutsche Bank CEO To Story Sent At 12:10 GMT
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble Wednesday
reaffirmed his demand that the private sector contribute to additional
financial aid for Greece.
Speaking at a conference organized by his center-right CDU/CSU
parliamentary group here, Schaeuble said there needs to be a “fair
burden-sharing between the taxpayer and the private sector” regarding
support for Greece.
Josef Ackermann, the CEO of Germany’s largest private bank,
Deutsche Bank AG, said at the same conference that “the voluntary
willingness [to join in aid for Greece] will cost us a significant sum
depending on which model will be used in the end.”
Schauble cautioned that “as long as we do not get the sovereign
debt crisis under control, the financial market crisis is not over.”
The head of Germany’s financial watchdog Bafin, Jochen Sanio,
warned at the same conference that nobody knows where the risks lie
regarding credit default swaps on Greece. “Are there risk
concentrations?” Sanio asked. “That is worrying me the most.”
Schaeuble also warned that too much liquidity worldwide “remains
one of the biggest uncertainties in the world financial system,” because
it can lead to the formation of new asset bubbles.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$X$$$,MGX$$$,M$$CR$,MFX$$$,M$G$$$]
