–Adds Comments to Story Sent at 13:34 GMT
FRANKFURT (MNI) – Basel III “in total is a balanced solution” and
will help prevent the financial system from becoming “overburdened,”
German Finance Minister Wolfgang Schaeuble said Thursday.
Schaeuble acknowledged at a finance conference here that the
tougher capital ratio requirements would lower bank profits but said it
was more important to ensure that a financial crisis like the one just
experienced be prevented.
Still, though much has been learned from the crisis at both the
national and international level, there is no “certainty” that another
crisis will not happen, Schaeuble cautioned.
The minister repeated the need for “forceful” budget deficit
reduction both in Germany and across the Eurozone.
It is in the interest of Germany to defend both European unity and
the common currency, he said.
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