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Wed 10 Oct 2008Berlin says no need for EU solution
GERMAN REACTION:THE GERMAN government does not see the need for an EU-wide solution to the banking crisis as proposed by Minister for Finance Brian Lenihan yesterday.
The German banking system is considered one of the world's most secure, with banks guaranteed through several levels of mandatory and voluntary guarantees and where individual bailouts rather than blanket protection remain the preferred solution of the federal government.
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