No direct bank recapitalisation by ESM from January: Germany's Schaeuble

German Finance Minister Wolfgang Schaeuble said on Friday that he saw no prospect of Spanish banks being recapitalised directly through a European rescue firewall from the start of January.

“I don’t see a direct recapitalisation of banks through the (European Stability Mechanism) as early as January,” Schaeuble said on arrival for Eurogroup finance ministers’ talks in Cyprus.

via Business feed http://www.scmp.com/business/economy/article/1036767/no-direct-bank-recapitalisation-esm-january-germanys-schaeuble