UPDATE 1-German FinMin-eurozone hasn’t convinced markets yet

* Says all euro zone states must reduce deficits

* On Greece, says expects every country to repay debts

* Says chances of global transaction tax slim
(Adds quotes, background)

BERLIN, May 19 (BestGrowthStock) – Euro zone states must cut their
deficits to win the confidence of financial markets, which
remain sceptical about the currency area’s fiscal health,
German Finance Minister Wolfgang Schaeuble said on Wednesday.

“We haven’t really convinced the markets yet, as we have
seen the euro falling further. That means we must reduce
deficits in all euro zone member states,” Schaeuble told
Deutschlandfunk radio.

Asked about remarks by Deutsche Bank (DBKGn.DE: ) Chief
Executive Josef Ackermann that cast doubt on Greece’s ability
to repay its debt, Schaeuble said: “I’m not sure that was the
wisest comment to make.”

“Of course we expect every country to pay back its debts.
So far Greece has also paid back every debt,” he added.

Schaeuble said Germany would only introduce a financial
transaction tax if it could be agreed globally and the chances
of that happening were slim.

“If it can be agreed globally, then we can do it but
whether there can be a global agreement … we will see at the
G20 summit of government leaders in June in Canada,” he said.
“The chances of there being such an agreement are very slim.”

Instead, Germany is pushing for the introduction of a bank
levy. [ID:nN23222674]

Asked whether his recent health troubles had led him to
consider resigning, Schaeuble said: “No.”

“I think I can undertake and bear this responsibility,” he
added.

Schaeuble, 67, has used a wheelchair since he was shot and
nearly killed by a mentally ill man in 1990.

He has been in and out of hospital several times and
recently missed international meetings in Madrid, Washington
and Brussels due to healing complications following an
operation earlier in the year.

Stock Market Research

(Reporting by Paul Carrel; Editing by Tomasz Janowski)

UPDATE 1-German FinMin-eurozone hasn’t convinced markets yet