Germany Sticks to Merkel’s Crisis Plan, Kampeter Says

Germany sees forcing investors to take a loss in future euro-area debt crises as a red line and won’t back down in the face of opposition from the European Central Bank and some governments, Deputy Finance Minister Steffen Kampeter said.

Finance ministers begin talks in Brussels today on a permanent crisis-resolution system to replace the 750 billion-euro ($1 trillion) rescue fund set up in May once its mandate expires in 2013. Germany won’t accept any deal that doesn’t involve investors, Kampeter said late yesterday in an interview in Karlsruhe, southwestern Germany.