• Germany edition
 
Minister: Markets trust eurozone again
Photo: DPA

Minister: Markets trust eurozone again

Published: 23 Jan 2012 07:48 GMT+01:00
Updated: 23 Jan 2012 07:48 GMT+01:00

Financial markets are gradually regaining confidence in the eurozone, German Finance Minister Wolfgang Schäuble said Sunday.

"This can be seen in the market reaction," Schäuble said in an interview with German public television ARD. "We're not yet in the clear, but we have seen in recent weeks and during recent bond sales that the markets are slowly regaining confidence."

He said this was generated by decisions taken by European heads at a summit in December.

Schäuble was speaking the day before the year's first meeting of finance ministers from the eurozone.

Asked about an article in German news magazine Der Spiegel, which said Italy's Prime Minister Mario Monti had argued for a doubling in size of the eurozone's

European Stability Mechanism (ESM), Schäuble said leaders would look closely at the mechanism in March as agreed earlier.

A permanent fund, the European Stability Mechanism (ESM), due to begin operations in July will run in parallel with the EFSF, a temporary instrument, for one year.

The combined capacity of both funds is supposed to be capped at €500 billion, but several countries, the European Central Bank and the European Commission want it to be larger.

When questioned if Germany should do more to help the eurozone, Schäuble said "the problems were not created in Germany."

"We are doing more than all the other countries," he said.

AFP/bk

The Local (news@thelocal.de)

Don't miss...X
Left Right

Your comments about this article

14:38 January 23, 2012 by derExDeutsche
well yeah, when you say you will do ANYTHING to save your own lousy jobs, citizens be damned, we believe you. But that doesn't mean we believe that things are getting any better.
15:06 January 23, 2012 by Bushdiver
We'll see just how long the markets have faith in the Eurozone. I don't see things getting better. Just a mass of countries throwing more money in the pot. If you keep pouring gas on a fire it will never burn out.
20:09 January 23, 2012 by Englishted
lies,damned lies, and German Finance Minister
11:22 January 26, 2012 by luckylongshot
There is a saying that you know when politicians lie because their lips are moving. So is it possible Wolfgand Scauble made these comments without moving his lips?
19:58 January 26, 2012 by raandy
Sure they they do Wolfgang Schäuble , keep talking.
Today's headlines
Ex-minister jailed over F1 race track scandal
Ingolf Deubel in court on Wednesday. Photo: DPA

Ex-minister jailed over F1 race track scandal

A former state finance minister was sentenced to three-and-a-half years in prison on Wednesday, having been found guilty of embezzling money in the scandal around the failed sale of the Nürburgring Formula One race track. READ () »

Upper Bavaria boasts lowest EU unemployment
A Bavarian worker works hard Photo: DPA

Upper Bavaria boasts lowest EU unemployment

Southern and central Bavaria have the lowest unemployment in the EU, according to figures released on Tuesday, with one business leader boasting the area has “de facto full employment”. READ () »

Thousands of tax evaders come forward to declare
Uli Hoeneß was jailed last month for tax evasion. Photo: DPA

Thousands of tax evaders come forward to declare

The number of German tax evaders who have self-declared to avoid prosecution trebled in the first quarter of 2014, figures published on Wednesday showed, with the rise put down to the "Uli Hoeneß effect". READ () »

Petition fails to remove WWII Russian tanks
One of the WWII Russian tanks near the Brandenburg Gate. Photo: DPA

Petition fails to remove WWII Russian tanks

The German government rejected on Wednesday a call by two newspapers to remove Russian tanks from a World War II memorial in central Berlin in protest against spiralling tensions in Ukraine. READ () »

Germany warns Ukraine talks must not fail
A Ukrainian policeman at a checkpoint in the eastern city of Kharkiv on Tuesday. Photo: DPA

Germany warns Ukraine talks must not fail

Foreign Minister Frank-Walter Steinmeier said on Wednesday that scheduled four-way talks on the Ukraine crisis must not fail, warning of "the threat of more dead and injured". READ () »

Olympic stadium could be giant polling station
Berlin's Olympic Stadium. Photo: DPA

Olympic stadium could be giant polling station

Berlin's Olympic stadium could become the world's biggest polling station if the Turkish community gets the go-ahead to vote there in Turkey’s general elections. READ () »

The Local List
Nine ways to celebrate Easter like a German
Photo: DPA

Nine ways to celebrate Easter like a German

From rolling wheels filled with burning hay down a hill, to waiting for a fox to bring eggs, The Local List this week looks at the nine best German Easter traditions. READ () »

Biology pupils find horse in kebab meat test
Horse? Photo: DPA

Biology pupils find horse in kebab meat test

Schoolchildren in western Germany came across horse meat while testing doner kebabs in a biology experiment. It comes a year after the horse meat scandal which showed much meat on sale in Europe had been mislabelled. READ () »

Private health insurance not worth it for workers
Photo: DPA

Private health insurance not worth it for workers

Thousands of employees paying into private health insurance in Germany get poor value for money, according to consumer experts - who recommend going private for just one group of workers. READ () »

'Free range' chicken farmer tricks customers
Free range? Photo: DPA

'Free range' chicken farmer tricks customers

UPDATE: A major producer of ethically certifified meat has admitted to defrauding thousands of customers for years by passing off conventional chicken as free range. But the brand said it took swift action to deal with the case. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Photo: Galerie Bilderwelt
Gallery
World War I in colour photos
Photo: DPA
Society
'The mafia has infiltrated every sector in Germany'
Photo: DPA
Society
JobTalk: Why you should teach English in Germany
Photo: DPA
National
330,000 sign up against TV licence fee
Photo: DPA
Hamburg
School kids hospitalized after 'porno' party
Photo: Submitted
Frankfurt
'I'll get even with my old pal Schwarzenegger'
Photo: DPA
Gallery
The week in pictures: April 5th - April 11th
Photo: DPA
Gallery
Ten great inventions you (probably) didn't know were German
Photo: J. Arthur White
Berlin
Clashes in Berlin as refugees tear down their own camp
Photo: DPA
Gallery
Munich's baby polar bears are finally named
Photo: DPA
Gallery
The 10 best German employers to work for
CurrencyFair
Sponsored Article
Why it pays to avoid banks when making overseas transfers
Advertisement:
Mr. Lodge
Sponsored Article
How to find a furnished rental in Munich
Sponsored Article
How to make a lasting impression in business
Hult International Business School
Sponsored Article
What they don't teach you at Business School
Photo: DPA
Society
Nine jobs you can only do in Germany
Photo:ESL
Sponsored Article
How to integrate successfully in Germany
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
Photo: DPA
Features
The Local List Archive - Your guide to all things German
National
Share news tips with The Local Germany
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,115
jobs available
Toytown Germany
Germany's English-speaking crowd