• Germany's news in English
 
Bundesbank chief: No bailout guarantee for Italy
Photo: DPA

Bundesbank chief: No bailout guarantee for Italy

Published: 16 Mar 2013 14:15 GMT+01:00

"Citizens and the government decide national policy, and must bear the consequences," Bundesbank president Jens Weidmann told the weekly Focus magazine, according to interview excerpts released Saturday.

"When major political players in Italy discuss a reversal of reforms or even an exit of Italy from the eurozone and consequently Italian bond yields rise, this should not and cannot be a reason for the intervention of the central bank," Weidmann said.

Elections in Italy last month ended in a stalemate in parliament between right and left. Campaigning had been marked by a reaction against the austerity measures pushed by German Chancellor Angela Merkel in a bid to beat the eurozone debt crisis that has propelled the 17-nation bloc into recession.

On Wednesday Beppe Grillo, head of the anti-establishment Five Star Movement which unexpectedly captured a quarter of the vote in the inconclusive Italian elections, said Italy was already essentially out of the euro.

Grillo has so far refused to form a coalition with Pier Luigi Bersani, whose leftist party came out on top in the elections, nor with ex-premier Silvio Berlusconi's conservatives. His party has spooked Europe with its promise to hold a referendum on the euro and cancel Italy's debts.

Your comments about this article

14:52 March 16, 2013 by raben
This is just a show for the German voters...

Off course Italy will be bailed out, whatever happens..
15:33 March 16, 2013 by liondens
Did they say the same thing about the Spain before they bailed the spanish banks out last year? Oh, I think he meant no bail for Italy, but for Italian banks then hell YES! Right? These people who dumb enough to believe them anyway? But then again...if no one believes them why they're continus to be incharged? This kind of democracy only exists in europe.
20:59 March 16, 2013 by US-TommyBoy
Rings hollow.

But the real reason I am here reading is I was wondering about the Euro Zone bailout (loans) to Cyprus and why this is the first time that they demanded regular depositors forfeit some money to stave off bankruptcy despite the wider run on savings that it might (will) cause. Not to mention riots.

http://www.reuters.com/article/2013/03/16/us-eurozone-cyprus-idUSBRE92E02220130316

Maybe this paper does not update news like Reuters. Reuters got it from Brussels.

if I was in Germany, I would be mighty fearful....even more fearful than I am here in the US.
16:03 March 18, 2013 by tangledeuro
EU (read it Germany) will bailout no-one, but Germany only if ever required..!!
Today's headlines
Man tries to open plane door over Munich
Photo: DPA

Man tries to open plane door over Munich

A man tried to open the emergency door of a plane as it was approaching Munich airport, police reported on Monday. READ  

Reporter sacked over Pegida 'interview'
Last week's Pegida protest in Dresden, which drew a crowd of 15,000 Photo: DPA

Reporter sacked over Pegida 'interview'

An undercover reporter who allowed himself to be interviewed by a rival TV network whilst taking part in an anti-Islamization demonstration in Dresden has been sacked, Spiegel reported Monday. READ  

'We have to take care of Isis victims': minister
A Yazidi woman at a Hannover demonstration against Isis in August.

'We have to take care of Isis victims': minister

The government plans to set up a trauma centre for victims of a mass rape campaign by the Islamic State (Isis) militant group, Overseas Development minister Gerd Müller said on Monday. READ  

Adidas sells three million World Cup shirts
World Cup-winning manager Joachim Löw accepts the award at a gala in Baden Baden on Sunday Photo. DPA

Adidas sells three million World Cup shirts

Football fans have snapped up a total of more than three million replica kits of their world-cup winning heroes, Adidas announced, with much of that boost coming in the run-up to Christmas. The team were also honoured as Germany's "Sportsmen of the Year" on Sunday. READ  

Good news for your Christmas overdraft
Photo: DPA

Good news for your Christmas overdraft

Shoppers who go into the red on their bank account over the Yuletide period have received some early festive good news, with a plan to clarify Germany's complex rules on overdrafts. READ  

Amazon pledge: Xmas pressies will arrive
Striking Amazon workers outside a distribution centre in Leipzig on December 8th. Photo: DPA

Amazon pledge: Xmas pressies will arrive

Online retailer Amazon said on Monday that walkouts at distribution centres across the country wouldn't affect Christmas orders as the strike spread across Europe. READ  

Armed heist at Berlin's top department store
The aftermath of the raid at Berlin's luxury department store Photo: DPA

Armed heist at Berlin's top department store

Stunned shoppers looked on in horror as masked robbers made a daylight raid at Germany's most exclusive department store on the busiest shopping day before Christmas. READ  

Security tests find holes at Frankfurt airport
Security checks at Frankfurt airport in July 2014. Photo: DPA

Security tests find holes at Frankfurt airport

Weapons and dangerous objects were successfully smuggled through security checks 50 percent of the time at Frankfurt airport, in a probe by European Commission inspectors, it emerged on Sunday. READ  

Breakfast stumble costs Berlin giraffe her life
Kibaya before her fatal fall Photo: DPA

Breakfast stumble costs Berlin giraffe her life

One of Berlin Zoo’s most popular attractions has had to be put down, after tearing a muscle in her leg. READ  

Xenophobia thrives in shadow of Berlin towers
A demo in Marzahn-Hellersdorf. File photo: DPA

Xenophobia thrives in shadow of Berlin towers

There's little to break the monotony of communist-era apartment blocks stretching across Marzahn-Hellersdorf, an east Berlin satellite district that has gained national notoriety for a spate of anti-foreigner protests. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Top 12 German idioms
Willy Brandt at his inauguration in 1972. Photo: DPA
National
Willy Brandt: the man, the chancellor... the airport?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Sponsored Article
Why are these International Baccalaureate students cheering?
Germany's national football team lifts the World Cup trophy
Gallery
Germany's most-Googled words of 2014
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Sponsored Article
Top ten gifts for an expat Christmas
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Culture
Stuff your face with these festive German cookies
Photo: DPA
Culture
What do beer, breakfast cereal and dildos have in common?
Culture
The Local's guide to German Christmas markets
Sponsored Article
Top five quirky Christmas jumpers
Photo: DPA
Culture
Get ready for Christmas like a German. We tell you how.
Photo: DPA
Munich
She did what with her dead mother?
Photo: DPA
National
Germany still paying for crisis fall out
Photo: DPA
Culture
Saxon wurst is the worst, Christmas market declares.
Photo: DPA
Politics
Can 'sorry' ever be enough for the Linke?
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Shutterstock
Sponsored Article
Offer: Unlimited airmiles through December 19th
Photo: DPA
Gallery
See how Berlin has changed in 22 photos
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

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

3,128
jobs available
The Local Spain is hiring!
The Local is seeking a new editor for our site in Spain to join our growing team of internationally-minded, driven, ambitious and clued-up journalists.
Details and how to apply
Toytown Germany
Germany's English-speaking crowd