November 16, 2018 / 2:47 PM / in 7 months

German finmin: We need a strong banking industry for our economy

FRANKFURT, Nov 16 (Reuters) - Finance Minister Olaf Scholz said on Friday that Germany needed a strong banking industry for its economy and added that Europe was better positioned for any possible financial crisis than it was a decade ago but still had a lot to do.

Scholz, speaking at a banking congress in Frankfurt, said Germany was close to developing a solution on a joint euro zone budget and he assumed that solution would be acceptable for other countries.

Reporting by Tom Sims Writing by Michelle Martin Editing by Thomas Seythal

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