German Finance Minister Details Debt Fund Plan Before European Union Summit

BERLIN (Madeline Chambers) - Germany's Finance Minister spelled out details on Saturday of his proposal for national redemption funds for excess sovereign debt which he intends to present at a crunch summit of EU leaders next week aimed at restoring confidence in the euro.Wolfgang Schaeuble outlined his plans under which states would effectively siphon off a chunk of their debt to a special national fund and pay it off over about 20 years while committing to reforms to keep debt levels on target.Read More... More on Video

 

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