German ESM Risks Are Limited, Schaeuble Tells Mittelbayerische

Germany’s financial risks from participation in the European Stability Mechanism are limited to 190 billion euros ($232 billion), Finance Minister Wolfgang Schaeuble said in an interview with Mittelbayerische Zeitung.

Reports of an agreement on shared liability for banks in the European Union at a euro region leaders’ meeting on June 29 are untrue, the newspaper cited Schaeuble as saying on its Internet site.

Schaeuble told the newspaper he’s “confident” that Germany’s highest court will reject legal motions to stop the ESM, the euro region’s future financial backstop.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net