Germany strives to reshape debt and deficit rules for euro

11/3/2010 | Bloomberg

Wolfgang Schauble, finance minister for Germany, said the stability of the euro requires that investors cover the costs of future debt crises. He said EU officials are poised to hammer out "key features" of a recently agreed upon permanent debt-crisis mechanism at their next summit in December. "Participation of the private sector is a central element of the mechanism," Schauble said. "I would like to remind those who still have problems with such a crisis-resolution mechanism that the currency union was never designed as a model for the enrichment of financial speculators."

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