–Adds Remarks By Head Of Germany’s Financial Watchdog Bafin
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble on
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.
“As long as we do not get the sovereign debt crisis under control,
the financial market crisis is not over,” the minister cautioned.
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$$$,M$G$$$]
