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National bank problems can't be shifted to ESM: Schaeuble
May 27, 2013 / 1:51 PM / 4 years ago

National bank problems can't be shifted to ESM: Schaeuble

German Finance Minister Wolfgang Schaeuble attends a news briefing after talks with his Portuguese counterpart Vitor Gaspar at the finance ministry in Berlin, May 22 , 2013. REUTERS/Thomas Peter

BERLIN (Reuters) - European countries should be under no illusion that they can shift responsibility for problems in their national banking sectors to the bloc’s rescue mechanism, German Finance Minister Wolfgang Schaeuble said on Monday.

Speaking at a Konrad Adenauer Foundation event in Berlin, Schaeuble also praised Greece, Portugal and Spain for making “significant” progress in reforming their economies and resolving their deficit and debt woes.

Reporting by Noah Barkin

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