Schaeuble says Cyprus bailout averts contagion

Published April 18, 2013

| Reuters

There would be a high risk of contagion to other euro zone countries if Cyprus was allowed to go bankrupt, German Finance Minister Wolfgang Schaeuble said in a speech to parliament on Thursday before a vote to approve a bailout for the Mediterranean island nation.

Schaeuble also said that while uncertainty linked to the euro crisis was still weighing on markets, it had diminished considerably over the past months.

(Reporting by Noah Barkin)

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