Thursday, October 02, 2008

Economy: Merkel - no blank cheques

German Chancellor Angela Merkel has said there will be no blank cheques for banks struggling in the current financial crisis.

German newspaper Bild-Zeitung reported Merkel as saying: "The federal government can not and will not issue a blank check for all banks, neglecting whether they have acted responsibly or not."

Merkel also stressed the importance of building a "better safety and early warning systems" for banks.
Published by Mike Hitchen, Mike Hitchen Consulting