April 24, 2013

Cyprus aid package approval German parliament

234. Sitzung, 17. Wahlperiode, 18. April 2013 (Bundestag.de,pdf,3.6MB)(German)
Zypern Debatte & Abstimmung
Cyprus debate & vote
(pdf pages 29154 - 29192 only <= transcript includes all debates of that day)

note: There will be a translation of some parts of the debate of German MPs later

April 20, 2013

Translation of bail-in template remarks by FinMin Schaeuble

>>After the chairman of the Eurogroup, the Dutch finance minister Jeroen Dijsselbloem, now also Wolfgang Schäuble called the rescue of Cyprus a role model for similar crisis cases. Also in future the owners, creditors and depositors of banks must contribute a share to rescue banks, Schäuble said. "The involvement of owners, junior bond holders and unsecured investors must be the norm, if a financial institution gets in trouble", Schäuble reiterated. "Otherwise we can't get a grip on the moral hazard problem, which enables banks to make vast profits with risky businesses, but in case of failure then puts the losses on the community", declares the finance minister. "That must not be" <<

Schäuble: Nicht mehr als zehn Milliarden Euro für Zypern (wiwo.de, Apr 20th 2013)