August 30, 2018 / 8:09 AM / 19 days ago

German finance minister believes much euro clearing will move to Frankfurt

FRANKFURT (Reuters) - German Finance Minister Olaf Scholz said on Thursday he believed a large part of euro clearing would move to mainland Europe and Frankfurt over time.

German Finance Minister and vice-chancellor Olaf Scholz attends the weekly cabinet meeting in Berlin, Germany August 1, 2018. REUTERS/Joachim Herrmann

On Italy, Scholz added that one had to be careful when carrying a lot of debt, and he believed the Italian government knew that.

Reporting by Tom Sims; Writing by Paul Carrel; Editing by Michael Nienaber

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