Schaeuble Says Germany Aware of Responsibility to Fight Crisis

Germany is aware of its responsibility to fight the debt crisis, Finance Minister Wolfgang Schaeuble said.

The current market turmoil with a “huge” contagion risk could lead to financial crisis, Schaeuble said in an interview on German radio today. That justifies the need to enhance the powers of the European rescue fund. The fund will be used “as efficiently as possible,” he said.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: Alan Crawford at acrawford6@bloomberg.net

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