Schaeuble says Cyprus bailout averts contagion

BERLIN, April 18 Thu Apr 18, 2013 3:23am EDT

BERLIN, April 18 (Reuters) - There would be a high risk of contagion to other euro zone countries if Cyprus was allowed to go bankrupt, German Finance Minister Wolfgang Schaeuble said in a speech to parliament on Thursday before a vote to approve a bailout for the Mediterranean island nation.

Schaeuble also said that while uncertainty linked to the euro crisis was still weighing on markets, it had diminished considerably over the past months.

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