BERLIN, Nov 22 (Reuters) - German clients of Iceland's bank Kaupthing, which was taken over by the Icelandic state last month, will get their savings back in full, German Finance Minister Peer Steinbrueck said on Saturday.
Steinbrueck told Tagesspiegel daily a solution had been found together with the Netherlands and Britain.
Steinbrueck said German clients had savings of around 308 million euros with the Icelandic bank. The Icelandic deposit guarantee fund would pay out the money to clients with German support, the paper quoted Steinbrueck as saying.
It provided no further details.
Kaupthing said last week it hoped to pay back customers of German operations in the next few days or weeks.
Germany's financial watchdog BaFin has implemented a temporary moratorium for the German unit of Kaupthing and the bank said it had been working on an agreement with the German government in recent weeks.
Steinbrueck also told Tagesspiegel that Europe's largest economy was in recession and facing a tough year in 2009.
'No one can say when the worst will be over,' Steinbrueck said in the interview, released ahead of publication on Sunday.
'We are in recession and a tough year 2009 is ahead of us.'
(Reporting by Kerstin Gehmlich, Editing by Peter Blackburn) (kerstin.gehmlich@reuters.com; Berlin Newsroom; +49 30 2888 5085; Reuters Messaging:kerstin.gehmlich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Steinbrueck told Tagesspiegel daily a solution had been found together with the Netherlands and Britain.
Steinbrueck said German clients had savings of around 308 million euros with the Icelandic bank. The Icelandic deposit guarantee fund would pay out the money to clients with German support, the paper quoted Steinbrueck as saying.
It provided no further details.
Kaupthing said last week it hoped to pay back customers of German operations in the next few days or weeks.
Germany's financial watchdog BaFin has implemented a temporary moratorium for the German unit of Kaupthing and the bank said it had been working on an agreement with the German government in recent weeks.
Steinbrueck also told Tagesspiegel that Europe's largest economy was in recession and facing a tough year in 2009.
'No one can say when the worst will be over,' Steinbrueck said in the interview, released ahead of publication on Sunday.
'We are in recession and a tough year 2009 is ahead of us.'
(Reporting by Kerstin Gehmlich, Editing by Peter Blackburn) (kerstin.gehmlich@reuters.com; Berlin Newsroom; +49 30 2888 5085; Reuters Messaging:kerstin.gehmlich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.