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German minister: Crisis far from over

German minister: Crisis far from over

Germany's finance minister said in comments published Sunday that global financial markets could still collapse and the situation remained dangerous despite government efforts to bailout lending institutions.
"The danger of a collapse is far from over. Any 'all clear' would be wrong," Finance Minister Peer Steinbrueck told the Bild am Sonntag weekly. "We are still dealing with a very dangerous situation."
Germany approved a euro500 billion ($675 billion) rescue package for the country's financial markets on Oct. 17, but so far only one bank, the state-owned BayernLB, has requested assistance. Two other state-owned banks, WestLB and HSH Nordbank, indicated over the weekend they were also considering seeking assistance.


Updated : 2021-04-17 11:31 GMT+08:00