German finance minister open to seizing Russia cenbank assets

BERLIN (Reuters) – German Finance Minister Christian Lindner is open up to the strategy of seizing Russian point out assets to finance the reconstruction of Ukraine, he reported in an interview with German company everyday Handelsblatt and three other European newspapers.

“I am politically open up to the strategy of seizing international belongings of the Russian Central Bank,” Lindner reported, adding that proposals to this impact had been already staying talked over among the Team of 7 financial powers and in the European Union.

“In the circumstance of non-public belongings, we have to see what is legally achievable,” Lindner included. “We have to respect the rule of regulation, even if we are working with Russian oligarchs.”

On European Union fiscal coverage, Lindner indicated he could be open up to compromise on the long run handling of EU financial debt procedures.

Whilst he could not guidance a reform with a softening of the Maastricht criteria — the backbone of EU fiscal guidelines — he explained “the fiscal guidelines should be much more practical and successful.”

“The aim is for all economies to expand and have sustainable public funds. I recommend combining a more credible long-term route to financial debt reduction with adaptable medium-expression targets,” he added.

(Producing by Paul Carrel, Enhancing by Rachel Extra)