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German Finance Minister: We need a strong banking industry for our economy

Published 11/16/2018, 09:46 AM
Updated 11/16/2018, 09:50 AM
© Reuters. German Finance Minister Olaf Scholz attends a press conference after the federal cabinet meeting in Potsdam

FRANKFURT (Reuters) - Finance Minister Olaf Scholz said on Friday that Germany needed a strong banking industry for its economy and added that Europe was better positioned for any possible financial crisis than it was a decade ago but still had a lot to do.

Scholz, speaking at a banking congress in Frankfurt, said Germany was close to developing a solution on a joint euro zone budget and he assumed that solution would be acceptable for other countries.

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