Posted on 01/18/2009 6:38:55 AM PST by Maelstorm
Berlin - German Finance Minister Peer Steinbrueck on Sunday ruled out the creation of a 'bad bank' to take toxic assets from the nation's major financial institutions.
Such a bank would need to be funded by at least 150-200 billion euros (198-260 billion dollars) of taxpayers' money, the minister told the newspaper Frankfurter Allgemeine Zeitung.
'How could I take such a proposal to the federal parliament,' he asked. 'The nation would think we've gone crazy.'
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