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Schaeuble Should Forego Euro Group Job, SPD Chief Tells BamS

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June 3 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble should forego a candidacy for the job of head of the group of euro-area finance ministers, Bild-am-Sonntag newspaper cited a leader of Germany’s main opposition Social Democratic Party as saying in an interview.

Frank-Walter Steinmeier, the former foreign minister in Chancellor Angela Merkel’s first-term government who is the SPD’s leader in the federal parliament, said the job should go to a small country when the incumbent, Luxembourg’s Jean-Claude Juncker, steps down.

“Germany’s dominance in European financial policy is already too large as a result of our economic strength,” Steinmeier was cited as saying by the newspaper.

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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