BERLIN: Germany has a number of questions about the European Commission's plans for banks to pay more to fund a deposit guarantee and wants risks in the sector to be reduced rather than mutualised, a Finance Ministry spokesman said on Monday.
The EU executive wants to set up a European Deposit Insurance Scheme (EDIS) to increase guarantees for depositors in case of a banking crisis. The Commission is due to table proposals on Nov. 24 for an EU guarantee fund financed by banks.
"It is not a secret, that on the basis of the discussions thus far, we have some questions that are unanswered. These start with the legal basis ... we have a few big question marks there," Finance Ministry spokesman Martin Jaeger said.
"The point must be that we minimise risks in the banking sector, and not that we share out and mutualise risks," he told a regular government news conference.
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