BERLIN Nov 7 Germany Economy Minister Philipp
Roesler said on Monday the country's gold reserves with the
central bank cannot be touched, adding his voice to opposition
to an idea reportedly discussed at the G20 summit of using
reserves to boost euro zone bailout funds.
"German gold reserves must remain untouchable," Roesler, who
is head of the Free Democrats (FDP), a junior partner in
Chancellor Angela Merkel's coalition, told ARD television.
The Bundesbank (German central bank) and a spokesman for
Merkel already said over the weekend that they too ruled out the
idea reported discussed at the summit of Group of 20 leading
economies last week.
German media said that the Cannes summit discussed using
central bank reserves, including foreign currency and gold, to
increase contributions to the European Financial Stability
Facility (EFSF) by more than 15 billion euros ($20 billion).
The reports said the European Central Bank (ECB) would own
the reserves which would be used to back a form of special
drawing rights from the International Monetary Fund (IMF).