Berlin Expresses Strong Opposition to Paris Bailout Plan

Germany expressed strong opposition Friday to a French plan to turn the eurozone bailout fund into a bank with access to European Central Bank funding. Berlin would not agree to the plan, government spokesman Steffen Seibert told a regular press briefing. There is "no question of the plan" being introduced, he said. His comments echoed remarks made by German Finance Minister Wolfgang Schaeuble earlier in the day to a meeting of Chancellor Angela Merkel''s conservative Christian Democrat Union, dpa reported. Seibert said Merkel had been involved in a frantic round of telephone calls ahead of series of top-level European meetings that are to take place over the next six days.