Financial Times FT.com

ECB warns Germany against EU bail-out

By Bertrand Benoit in Berlin and Ralph Atkins in Frankfurt

Published: February 20 2009 21:37 | Last updated: February 20 2009 21:37

The European Central Bank gave a thinly veiled warning to the German government on Friday not to violate the European Union’s “no bail-out” clause, which prevents members of the eurozone from supporting other members that are facing rising public debt.

Jürgen Stark, ECB executive board member, told Spiegel magazine in an interview released on Friday that the clause was an “important basis for the functioning of the monetary union”.

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