Home FINANCE German Finance Minister Tells Group No Hasty Decisions on Cyprus – Source...

German Finance Minister Tells Group No Hasty Decisions on Cyprus – Source – Fox Business

20
0
Germany’s Finance Minister Wolfgang Schaeuble Tuesday spoke out against “over hasty” decisions on an aid package for Cyprus and called for a considerable reduction in the size of the country’s banking sector, in comments made to his parliamentary group according to a person at the meeting.

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.

Write to Andreas Kissler at andreas.kissler@dowjones.com

Copyright © 2013 Dow Jones Newswires

German Finance Minister Tells Group No Hasty Decisions on Cyprus – Source – Fox Business}

This site uses Akismet to reduce spam. Learn how your comment data is processed.