• Will not speculate on Grece’s future financial policy but German banks prepared for all possible scenarios
  • Bundesbank closely following developments in Spain, Portugal; situation there not comparable to Greece
  • German banking system robust but cancompletely avoid effects of financial environment
  • ECB 3 year tenders bought time that governments and banks must use to solve problems, regain market trust
  • On fiscal union, BAFIN chief says perhaps best to wait for current measures to show results before launching new ideas (ummmm, not so sure on that one)