Monday October 06 02:39 am
People and Politics | Emergency Manager - Finance Minister Peer Steinbrück and the Banking Crisis
These days Germany's finance minister Steinbrück has been rushing from one crisis meeting to another as the worldwide financial meltdown hits Europe - and Germany. A dramatic rescue action by the government and private banking houses may have saved the Hypo Real Estate group from collapse. In contrast to the panicked reactions of many bankers and brokers, Steinbrück seems calm and collected, although the crisis has torn huge holes in his budget.