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Schaeuble- Spanish banks no danger for euro stability
BERLIN, June 10 |
BERLIN, June 10 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Sunday that Spanish banks are not at all a danger for the stability of the euro and added that they will now be getting the capital they need.
In an interview with ARD television, Schaeuble said: "We have to make clear: there's no danger of contagion (from) the banks....It must be clear to everyone that the Spanish banks, despite all their problems, are not a danger for the stability of the euro and they will be getting enough capital."
Schaeuble also pointed out that Spain's debt level is less than Germany's. He repeated his view that Spain's banks are suffering because of a specific problem - the country's real estate woes.
"And by the way, Spain's overall debt is lower than Germany's. But as a result of the real estate boom Spain has a problem with the banks and that had to be resolved with enough capital being added. And because of the high interest rates on the markets Spain can't get that at acceptable conditions."
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