Germany’s CSU Won’t Back ESM Aid For Banks, Augsburger Says

Germany’s Christian Social Union, the Bavarian sister party of Chancellor Angela Merkel’s Christian Democrats, won’t support aid to distressed banks from the euro area’s rescue fund, Augsburger Allgemeine said, citing Bavaria’s Finance Minister Markus Soeder.

“We very clearly reject that the European Stability Mechanism become a self-service shop for banks,” Soeder was cited as saying by the newspaper.

Stefan Nicola in Berlin at +49-30-70010-6246 or snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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