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German FinMin says will not block Basel III

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Fri Sep 3, 2010 4:12pm IST

BASEL, Switzerland, Sept 3 - German Finance Minister Wolfgang Schaeuble said his country would not block agreement on Basel III rules requiring banks to hold more and better-quality capital.

"We won't block it," he told an economics conference in Basel, Switzerland. "But we will push that we get sufficient time to translate the rules and that the definitions are acceptable for all."

(Reporting by Catherine Bosley; editing by Patrick Graham)

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