BERLIN, March 20 German Finance Minister
Wolfgang Schaeuble welcomed a European deal on a banking union
reached earlier on Thursday, saying it met German demands that
funding for winding down banks would be better controlled and
the risks for taxpayers minimised.
The agreement reached by European policymakers ended a
stand-off between the European Parliament and euro zone
countries and is designed to restore banks' confidence in each
other and boost lending across the euro zone.
Schaeuble welcomed what he called "the clear participation
of private creditors from the start". Also significant was that
"the mutualised liability of participating member states
remained ruled out", said Schaeuble in a statement, adding that
the text had to be finalised soon.
(Reporting by Madeline Chambers and Stephen Brown)