Tuesday, September 11 11:00:21
German Finance Minister Wolfgang Schaeuble said today that the only way to solve the euro zone crisis was for the bloc's member states to correct the policy mistakes of the past.
"The causes lie in the mistakes of the financial and economic policies which member states have pursued and (the crisis) can only be solved via these," he said.
"There is no comfortable way out of that, neither through pooling debt nor by casually using the bank's printing presses."
Schaeuble said this principle was the basis of all decisions on European bailouts and the ECB. He added that the independence of the ECB needed to be defended and respected.
Schaeuble was opening a parliamentary debate on Germany's 2013 budget in the Bundestag lower house of parliament. (C ) Reuters