German Finance Minister: Greek privatization fund must have management by year end

[October 11, 2016]  LUXEMBOURG (Reuters) - Greece must have the management of its privatization fund in place by the end of this year, German Finance Minister Wolfgang Schaeuble said on Tuesday after euro zone ministers gave Athens a positive review of its reforms while withholding part of a new loan payment.

Speaking in Luxembourg after further talks on Tuesday, Schaeuble also said he wanted a decision in the direction of a financial transaction tax by the end of the year.

He added reforms of Basel III rules, aimed at making the banking sector more financially sound by reducing the reliance on internal risk models, must not disadvantage banks.

He also said a decision should be made by December on the suspension of structural funds to Spain and Portugal.

(Reporting by Frank Siebelt; Writing by Madeline Chambers in Berlin; Editing by Caroline Copley)

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