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Schaeuble Says ECB Can’t Be Used to Help Finance State Deficits

German Finance Minister Wolfgang Schaeuble said the European Central Bank cannot be used to help finance government budget deficits.

“We have all recognized by now that it’s clear first of all that we stick with the agreed guarantee total as it is, and, as is written in the treaties, that the central bank is not available for state financing,” Schaeuble told reporters today in Brussels as he arrived for a meeting of euro-area finance ministers.

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