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German Banks Can Weather Crisis, Rescue Fund Tells Handelsblatt

German banks are in good shape to weather the European debt crisis, the head of the country’s FMSA bank-rescue fund told Handelsblatt in an interview.

“There’s no cause for concern regarding concrete, individual banks in the finance industry,” Christopher Pleister is cited by the newspaper as saying. Should the debt crisis worsen, the fund is ready to step in and rescue lenders, he said.

The Financial Market Stabilization Agency was formed in 2008 and is a unit of the Finance Ministry, according to its website.

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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