The person told Dow Jones Newswires that the finance minister said “the question of the over-sized banking sector” needs to be resolved.
“Without the banking sector being considerably reduced, the Cyprus problem won’t be resolved,” Mr. Schaeuble reportedly told lawmakers in his center-right Christian Democratic Union party.
Comments made by the party’s chief whip to lawmakers Tuesday backed the view that the Cypriot banking sector is “much too big,” according to a copy of the comments seen by Dow Jones Newswires.
“Aid for Cyprus is only conceivable with adherence to concrete terms,” the report said.
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German Finance Minister Tells Group No Hasty Decisions on Cyprus – Source – Fox Business}