Schaeuble told a parliamentary budget debate the euro currency would lose the confidence of markets if common Eurozone bonds were introduced now.
He also said the IMF΄s calculation that European banks need 200 billion euros΄ recapitalisation was partly wrong and misleading, and would be discussed by G7 finance ministers at the end of the week. German FinMin also warned against continued market turbulence and called on other countries to follow Germany΄s lead in debt reduction, according to Dow Jones Newswires.
Parliament, which opened Monday, finds itself “under the pressure of unsettling turbulence in the financial markets,” said Schaeuble.
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